Mikata Engineers to Receive Pay in Japanese Yen Stablecoin

Japanese engineering firm Mikata has announced that it will begin paying its engineers' salaries and freelance work fees in JPYC, a Japanese yen-pegged stablecoin. The company said that this new system is in response to a request from its engineers who wanted to receive their pay in the form of a cutting-edge blockchain technology.

The payment method allows employees or freelancers to choose to receive their salary or freelance fees in JPYC, which can be sent directly to their public blockchain wallet. The company has stated that this system is designed to meet related laws and regulations and will be implemented in conjunction with internal and external institutional arrangements.

JPYC is a stablecoin pegged 1:1 to the Japanese yen and backed by yen-denominated deposits and bonds, making it eligible for use as an electronic payment method under Japan's Payment Services Act. Mikata's president, Yoshihiro Tajima, said that this move is not just about introducing cutting-edge technology but also reflects the company's culture of valuing employee feedback.