JPYC CEO warns of the decline of traditional finance

Noritaka Okabe, CEO of JPYC, has issued a warning regarding the longevity of traditional financial systems. In a post on X, Okabe cited recent reports concerning unauthorized access to financial institutions as a reason for his concern.

Okabe stated, “Traditional finance does not have much time left,” and added that the lifespan of fiat currency is uncertain. He urged individuals to carefully consider the risks and implications of entrusting their assets to third parties to ensure survival in the coming era.

JPYC is a company that issues the JPYC stablecoin, which is pegged 1:1 to the Japanese yen. According to the company, the stablecoin is backed by assets such as Japanese yen deposits and government bonds.