Japanese Yen Stablecoin Goes Live on the IOST Blockchain

This article was first published on Stories by IOS Foundation on Medium

In a bid to promote the use of Japanese Yen stablecoins as a prepaid means of payment, the Platinum Egg team- IOST Node Partner, and Game Developer announced the issuance of IRC-20 JPYA (JPY Stablecoin) based on the IOST blockchain. The JPYA stablecoin is pegged 1:1 to the Japanese Yen and can be purchased with Japanese Yen, BTC, ETH, and IOST.

This follows a long-term partnership between IOST and the Platinum Egg team- a seasoned blockchain game & service developer in Japan who is best known for their popular CrossLink game which gains over 170,000 downloads and their IOST-based NFT platform TokenLink.

JPYA is the second stablecoin issued on IOST this year, following the successful integration of HUSD. For developers who are looking to find a user-friendly, secure, and gas-efficient blockchain to develop their dApps, IOST is a straightforward choice. It is developer-friendly to launch stablecoins as well as dApps on IOST thanks to the use of the Javascript smart contracts which are easy to learn and have few functional limitations. Developers are also able to consistently develop in JavaScript using the provided SDK and modify after deployment. Compared to other blockchains with the high cost of gas consumed as an energy source, IOST is practically free, making it an optimal option for transactions with small amounts.

The JPYA Stablecoin Use Case

Bitcoin, Ethereum, and other blockchain-based payment methods have been on the rise since around 2010, but their prices have fluctuated greatly and their use as a payment method has not been a reality. In addition, several stablecoins have started to be created in Japan, but they have yet to become popular. JPYA is a stablecoin that can be used as a means of prepaid payment, and is based on IOST, which is fast and virtually free of gas. It ...

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