DeltaForesight to Launch JPY-Pegged Crypto Stablecoin JPYdf After Raising 324 Million Yen

Japanese firm DeltaForesight has announced plans to issue JPYdf, a crypto-backed stablecoin aiming to track the value of the Japanese yen. The company also secured 324 million yen in funding led by Coral Capital, with participation from FFG Venture Business Partners, Decima Fund, Animoca Brands, HashPort, DeFimans, and Narrative Inc. JPYdf will be issued via the JPY DeFi protocol, which allows users to borrow the stablecoin by over-collateralizing assets such as ETH (wstETH) and USDC. Unlike electronic payment instrument stablecoins in Japan, JPYdf does not guarantee redemption at a 1:1 ratio with the yen and is classified as a crypto asset rather than a currency-denominated asset. The funds will support protocol development, security audits, and team expansion.