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South Korea Reviews Market Makers Amid JPYC Price Spike

Guavy AI Editorial Team
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JPYC, a yen stablecoin, saw its price spike from an opening of 12 won to 37.6 won on Upbit within about an hour after listing on September 17.

This rapid climb highlights liquidity risks associated with stablecoins entering new markets.

The move pushed JPYC's value roughly four times above what is implied by its yen peg, reflecting limited orders during the early trading period.

South Korea's Financial Services Commission (FSC) is reviewing whether a formal crypto market-making system is needed, considering mechanisms including market making.

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