Invested in “JPYC Co., Ltd.”, which provides stable coin JPYC for Japanese yen.
*View in browser* *United Corporation*
Press release: February 13, 2024
*Dear one*
Invested in “JPYC Co., Ltd.”, which provides stable coin JPYC for Japanese yen. United Co., Ltd. (Headquarters: Shibuya-ku, Tokyo, Representative Director, President and Executive Officer: Hayakawa)
Yoki, stock code: 2497, hereinafter “United”) is JPYC Corporation (Head office: Chiyoda-ku, Tokyo, Representative Director: Okabe Noritaka has invested in JPYC (hereinafter referred to as “JPYC”).
* ■About JPYC’s business*
JPYC develops and operates “JPYC,” a Japanese yen stablecoin. “JPYC” is a Japanese yen stablecoin that is issued as a third-party prepaid payment instrument, has technical characteristics similar to crypto assets, and is compliant with the Payment Services Act. Currently, “JPYC” is issued on various public blockchains including Ethereum and Polygon.
* ■Background of United’s investment in JPYC*
In terms of national strategy, Web3 and NFTs, including stable coins, are attracting attention. According to the revised Payment Services Act that came into effect on June 1, 2023, stablecoins are defined under Japanese law as extremely stable digital money “electronic payment means” different from crypto assets, and the market is expected to grow further in the future. is expected. Stablecoins as an electronic payment method are required to have at least 100% deposit and a high level of consumer protection, and are designed to reduce risks such as price fluctuations during transactions based on these requirements. As a payment method that guarantees the same value as the legal currency, the Japanese yen, it is also expected to make inter-company payments and international remittances smooth and low-cost.
JPYC’s mission is to “break through social dilemmas” by lowering payment fees, etc., with the aim of developing social infrastructure that is essential for Japanese businesses and consumers to compete fairly and fairly internationally. We aim to achieve this goal. United has invested in JPYC because it sympathizes with JPYC’s mission and feels a compatibility with United’s purpose of “maximizing the power of will and accelerating the advancement of society.”
(Reference) Revised Fund Settlement Act: “Finance Services Agency Explanatory Materials (Regarding Recent Movements in the Fund Settlement System)”
https://www.mof.go.jp/about_mof/councils/meeting_of_cbdc/20230524siryou1.pdf
* ■Future outlook*
JPYC currently issues “JPYC” as a third-party prepaid payment instrument (prepaid), but it is aiming to obtain a license for funds transfer business, electronic payment instrument transaction business, etc. based on the revised Payment Services Act. Masu. We plan to use the funds raised this time to increase our capital and strengthen our internal structure.
United will continue to actively invest in venture and start-up companies with promising business models.
* ■About United Corporation investment business*
United’s purpose is to “maximize willpower and accelerate the advancement of society,” and our three core businesses are investment, education, and human resource matching.
In our investment business, we have invested in numerous venture and start-up companies for over 20 years since the dawn of the Internet business, and have supported the growth and exit of the companies in which we have invested.
Currently, our main investment targets are domestic seed to early stage venture and startup companies. All investments are made with our own funds, allowing us to make flexible and speedy decisions. After investment, we provide business and organizational management know-how cultivated through many years of business management and investment experience, as well as provide financing and exit support. In addition, our hands-on support team, UVS*, provides comprehensive support for business growth, from business strategy planning to execution.
*UVS (UNITED Venture Success): Hands-on support team made up of Capitalist team and Value Up team members
* ■Company profile*
Investor name: JPYC Corporation
Head office location: 4th floor, Otemachi Building, FINOLAB, 1-6-1 Otemachi, Chiyoda-ku, Tokyo 100-00004
Establishment date: November 20, 2019
Representative: Representative Director Noritaka Okabe
Business details: Issuance and operation of ERC20 prepaid payment instruments, consulting on general blockchain such as NFT
URL: https://jpyc.co.jp/
*United Corporation*
Head office location: MFPR Shibuya Building, 1-2-5 Shibuya,
Shibuya-ku, Tokyo 150-0002
Establishment date: February 20, 1998
Representative: Yoshinori Hayakawa, Representative Director, President and Executive Officer
Business details: Education business, human resources matching business, investment business, ad tech/content business
URL: https://united.jp/
United Co., Ltd.
United Co., Ltd.
Head office location: MFPR Shibuya Building, 1-2-5 Shibuya,
Shibuya-ku, Tokyo 150-0002
Establishment date: February 20, 1998
Representative: Yoshinori Hayakawa, Representative Director, President and Executive Officer
Business details: Education business, human resources matching business, investment business, ad tech/content business
URL: https://united.jp/
*About details about this release*
https://prtimes.jp/main/html/rd/p/000000317.000023821.html
*Download press release materials*
https://prtimes.jp/im/action.php?run=html&page=releaseimage&company_id=23821&release_id=317