Polygon enables users of the MOACT rewards app, run by a wholly owned subsidiary of Japanese utility Kansai Electric, to convert their loyalty points into JPYC, the yen stablecoin. The feature, live since July 30, lets users swap NORM points earned by completing social-impact missions in the app into JPYC issued on Polygon. JPYC, issued by JPYC Inc. and registered with Japan’s Financial Services Agency as the country’s first regulated yen-pegged stablecoin, redeems one-to-one for yen. Polygon says it processes more JPYC volume than all other chains combined.
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