Noritaka Okabe, CEO of JPYC, the issuer of the Japanese Yen stablecoin, posted on X on October 21, citing reports of unauthorized access to financial institutions, stating, "Existing finance doesn't have long." He urged people to consider the risks and implications of entrusting their assets to others.
Existing finance doesn't have long. The lifespan of fiat currency is also uncertain. I believe that if we don't seriously consider the risks and implications of entrusting our assets to others, we won't survive in the coming era. — Noritaka Okabe, CEO of JPYC (@noritaka_okabe) October 21, 2026
The article cited was "Unauthorized Access: 'Possibility that financial institutions have become targets'," reported by NHK on the 21st. Okabe also stated, "The lifespan of fiat currency is also uncertain."
JPYC, led by Okabe, is a company that issues the stablecoin "JPYC," which is exchangeable 1:1 with the Japanese Yen. According to the company's official explanation, its underlying assets are secured by Japanese Yen deposits and government bonds. While it can be sent and received digitally, it is not a system entirely unrelated to the Japanese Yen or existing financial assets.
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