New Asset Proposal: JPYC

Summary
We propose to list JPYC on C.R.E.A.M. for lending and borrowing.
Contract【JPYC】: JPYC Token Tracker EtherScan

For

Add JPYC as a collateral asset

Against

Do nothing

Motivation

  • C.R.E.A.M is one of the major Lending/Borrowing Protocols in Defi now. It allows many people to access Defi with simple and easy UI/UX with wide range of choices of crypto asset.

  • JPYC is a currently biggest Japanese Yen backed stable coin like USDC. Unlike typical stable coin, the unique thing about JPYC is it can be used to actual payment because it’s a prepaid means of payment under Japanese law, which means we comply with regulations.
    It also can be spent to pay tax as well, and we are trying to expand the use case furthermore.

Benefits for C.R.E.A.M

  • It gives the opportunity for C.R.E.A.M to access the Japanese crypto market, which has a lot room to grow. Potentially 3~5m users.

Asset Details
CoinGecko token link:JPYC price, chart, market cap and info | CoinGecko
Links to Dex liquidity : USDC-JPYC Sushiswap

References

3 Likes

Great!! JPYC can be exchanged in Japan for V-Prica Gift, a prepaid card that can be used at any Visa online shop, and V-Prica Gift allows you to shop at many real shops as well as online shops.JPYC can be converted into a prepaid currency that can be used for shopping in Japan without the need to convert it back to Fiat, making it very convenient for C.R.E.A.M users to use the JPYC when they come to Japan.

1 Like