Upbit Delays JPYC Trading Launch by Three Hours
Upbit has delayed the launch of JPYC trading by three hours. The yen-backed stablecoin was originally set to start trading at noon on September 17, but the exchange moved it to 3:00 p.m. KST across its KRW, $BTC, and $USDT markets.
The delay only affects JPYC, while PayPal USD ($PYUSD) retains its original start time of noon. Upbit's listing notice explains that deposits and withdrawals for JPYC will use the Ethereum network, with other networks outside the scope of the listing notice.
Upbit requires customers to verify the network and contract before transferring funds, as unsupported deposits may require a lengthy return process. The exchange warns customers to check the supported token contract 0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29.
The delay comes after JPYC Inc. received registration as a funds-transfer service provider under Article 37 of Japan's Payment Services Act on August 18, 2025. The company lists its registration as Kanto Local Finance Bureau No. 00099 and has since expanded beyond issuance and redemption, including retail payment tests with Japanese convenience-store operator Lawson.