DeltaForesight Secures ¥324 Million for Yen Crypto Project
DeltaForesight has secured ¥324 million in cumulative financing to develop its Yen Crypto Project, which aims to create a protocol for minting and borrowing yen-linked crypto assets called JPYdf.
The project's design uses overcollateralization, meaning users must deposit more value than the amount of JPYdf they wish to borrow. This allows them to maintain exposure to their deposited assets while taking on debt in yen terms.
The financing was led by Coral Capital, with participation from several other investors including FFG Venture Business Partners and HashPort. DeltaForesight plans to use the funds for protocol development, security audits, operational monitoring, hiring, and partnership expansion.
The project's mainnet launch has not been finalized, but it is expected to support yen-denominated borrowing, trading, and other on-chain activity using global crypto liquidity.