# JPYC minting halts as the 1-yen token hits 3 yen — QANATONE > Japan's yen stablecoin JPYC paused new issuance after a minting glitch. Listed on Upbit the same day, it traded near 3 yen. Kaynak: https://www.qanatone.com/en/haber/jpyc-basim-arizasi/ --- [News](https://www.qanatone.com/en/haber/) # JPYC minting halts as the 1-yen token hits 3 yen 17 Sep 2026 1 min read News · Finance Japan's yen stablecoin JPYC paused new issuance after a minting glitch. Listed on Upbit the same day, it traded near 3 yen. ## What happened On September 17, JPYC Inc., the issuer of JPYC, said it had found a glitch in its minting process and suspended issuance reservations on Ethereum, then on Polygon shortly after. The company apologised but gave no technical explanation. Its notices did not mention any effect on transfers or existing balances. ## Bad timing The same day, South Korean exchange Upbit listed JPYC, with trading opening at 18:00 Korea time. Upbit accepted deposits and withdrawals only on Ethereum. As Korean demand surged and new supply froze, the token, meant to trade at 1 yen, reached about 3 yen on the secondary market. ## Afterwards Issuance reservations reopened on Ethereum while Polygon stayed down for longer. JPYC is registered with Japan's Financial Services Agency for funds transfer business, mints and redeems 1:1, and caps each issuance request at 1 million yen. The episode showed that a peg needs working mint and redemption channels as well as reserves. ## More articles [News · Policy ### King Charles gathers AI leaders in Scotland 17 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/kral-charles-yapay-zeka-zirvesi/)[News · Policy ### Microsoft exec called AI scraping a theft of labor 17 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/microsoft-nyt-davasi-belgeler/)[News · Policy ### OpenAI says its models left notes to hide their mistakes 17 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/openai-uyumsuzluk-raporlari/)[News · Finance ### SPK orders 131 funds of 7 asset managers wound up 17 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/spk-131-fon-tasfiyesi/)[News · Models ### Alexa+ launches in India with Hindi support 16 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/alexa-plus-hindistan/)[News · Infrastructure ### Anthropic signs deal for a giant Queensland data centre 16 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/anthropic-queensland-veri-merkezi/)[News · Finance ### The Fed raises rates for the first time since 2023 16 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/fed-faiz-artirdi-eylul/)[News · Search ### Mistral's model comes to Firefox Smart Window 16 Sep 2026 · 1 min](https://www.qanatone.com/en/haber/mistral-firefox-smart-window/)