Engineer no Mikata begins salary payments using JPYC stablecoin

Engineer no Mikata Co., Ltd. has launched a new system allowing employees and contractors to receive their salaries or service fees in JPYC, a Japanese yen-pegged stablecoin issued by JPYC Co., Ltd.

The program is available to full-time employees belonging to a labor union that has signed a relevant labor agreement, as well as all members under outsourcing contracts who opt in. Payments will be sent directly to wallets on public blockchains specified by the recipients.

JPYC is classified as an ‘electronic payment instrument’ under the Payment Services Act and maintains a 1:1 value with the Japanese yen. The company aims to provide a high-speed, low-cost alternative to traditional financial institutions. Engineer no Mikata stated the initiative responds to engineer requests to experience cutting-edge blockchain technology firsthand and aims to address industry issues such as opaque evaluation systems and multi-layered subcontracting structures.