JPY Coin (jpyc.co.jp) (JPYC)

I read it quickly, albeit belatedly.

It is obvious that money‑transfer operators and loan companies do not create credit, and Mr. Okabe should understand that as well.

I think ume is only discussing textbook‑style matters.

What’s different from before is that stablecoins can circulate as a single unit.

Both PayPay and stablecoins are payment methods with receivable rights, but PayPay cannot be extracted as a single unit.

When a customer buys JPYC, they simply deposit their funds into Mr. Okabe’s company bank (just a transfer), so M2 does not increase. At this stage, no credit is created.

However, with stablecoins the coin can be withdrawn and circulated, so if JPYC is counted as money, the broad money supply does increase.

That’s double counting. It doesn’t multiply like a bank does.

Thus, for the whole system you could say credit is being created, but it’s not the textbook way of counting.

Since stablecoins are a concept not covered in textbooks, the discussion will not align unless the terminology is defined rigorously.

@ret_0001 AzeMichi's online rice sales are 90% JPYC?!

There are benefits to implementing it early ^ ^

#JPYC

@FumihiroArasawa I think many stores are hesitant to introduce free shipping etc. with JPYC payments due to credit card company merchant agreement violations, so please help spread Mr. Okabe's public commission story.
https://t.co/aJb3iCxFMy