DeltaForesight Secures $2.1M to Launch Yen-Linked Stablecoin Protocol JPYdf

DeltaForesight has secured $2.1 million in funding to develop its yen-linked stablecoin protocol, JPYdf. The Japanese startup aims to bridge the gap between traditional fiat currencies and cryptocurrencies by allowing users to borrow against crypto assets and other stablecoins.

The protocol will enable global on-chain liquidity for yen-denominated borrowing and trading, overcoming the limitations of existing DeFi stablecoins that are dollar-denominated.

JPYdf is over-collateralized and issued via smart contract, with positions subject to liquidation if collateral falls below set thresholds. The company emphasizes that JPYdf carries risk, including value tracking and price stability issues.