Delta Foresight Secures 300 Million Yen Investment for JPYdf Stablecoin Development

Japanese virtual asset company Delta Foresight has secured an investment of 300 million yen for the development of the yen stablecoin 'JPYdf', which is issued against digital assets as collateral. Delta Foresight raised a total of 324 million yen through J-KISS type new share reservation rights, with Japanese venture capital firm Coral Capital as the lead investor. The investment includes participation from FFG Venture Business Partners, a subsidiary of Fukuoka Financial Group, Desima Fund, Animoca Brands, HashPort, DeFiMents, and Narrative. The funds will be used for the development of the JPY DeFi mainnet, external security audits, and talent recruitment. JPY DeFi is designed to allow users to deposit digital assets or US dollar-based stablecoins as collateral to borrow JPYdf. Users can only borrow amounts less than the value of the collateral, and liquidation procedures will be initiated if the price of the collateral assets falls. Delta Foresight explained that it does not directly guarantee the yen value linkage or redemption of JPYdf. Currently, the company is working on system development and reviewing relevant laws in Japan with the goal of launching the JPY DeFi mainnet.

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