Avalanche to Power Japan's JPYC Stablecoin Tax Refunds for Tourists
Avalanche's C-Chain will facilitate tax refunds in yen-pegged JPYC stablecoins for international visitors in Japan starting November 1.
Avalanche's C-Chain will facilitate tax refunds in yen-pegged JPYC stablecoins for international visitors in Japan starting November 1. Avalanche (AVAX) is trading at ₹785 ($8.24), down 0.8% since this brief published. This is an original Token Times brief synthesising 2 outlets (Crypto Economy, TronWeekly), plus live market data, as of Fri, 30 Oct 2026 00:15:02 UTC.
This initiative marks a significant step in integrating blockchain technology into Japan's retail and tourism sectors, potentially boosting stablecoin adoption and expanding Avalanche's use cases in regulated environments.
- Avalanche's C-Chain will support JPYC stablecoin tax refunds for tourists in Japan.
- The program launches November 1 in partnership with UPBOND and Japan Tax Free.
- JPYC stablecoin aims to facilitate everyday retail payments for international travelers.
- Avalanche TVL is $138.43M, down 0.3% over the past week.
Multiple outlets, including Crypto Economy and TronWeekly, confirm that Avalanche's C-Chain will support a new tax refund service in Japan using JPYC stablecoins, with the program set to begin on November 1, 2023. The collaboration involves UPBOND, Japan Tax Free, and JPYC Inc., with TronWeekly specifically noting Japan Refund as another partner. While both outlets highlight the potential for stablecoin adoption in retail payments, they differ slightly in emphasis, with TronWeekly focusing more on the retail aspect and Crypto Economy emphasizing the blockchain infrastructure integration.
Avalanche's C-Chain is set to play a key role in a new tax refund service for international tourists in Japan, starting November 1, 2023. The service will allow eligible travelers to receive their consumption tax refunds in JPYC, a stablecoin pegged to the Japanese yen.
The initiative is a collaboration between UPBOND, Japan Tax Free, and JPYC Inc., with TronWeekly also mentioning Japan Refund as a partner. The system will leverage blockchain technology to facilitate the transfer of funds after customs clearance and internal reconciliation.
This development comes as Japan continues to explore the integration of blockchain technology into its financial and retail sectors. The use of a regulated stablecoin like JPYC could pave the way for broader adoption of digital currencies in everyday transactions.
The Avalanche network's involvement in this project underscores its growing presence in the blockchain ecosystem. Despite a slight decline in its Total Value Locked (TVL) over the past week, Avalanche's TVL stands at $138.43 million, according to DeFiLlama.
In the broader market context, the total crypto market cap is $2.7 trillion, with 
Bitcoin down 2.99% in the last 24 hours. Avalanche's native token, AVAX, is currently trading at $8.31, experiencing a 7.46% drop in the past day and an 8.57% decline over the week. The overall market sentiment, as indicated by the Fear & Greed Index, remains neutral at 51.
Since this brief published about 1 hour ago, Avalanche (AVAX) has moved from ₹791.91$8.31 to ₹785.24$8.24 — -0.84%.
The chart plots AVAX's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 AVAX ≈ ₹867.26 (about $8.24), down 8.5% over 24 hours. The rupee itself trades about 10.4% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the asset in this story — live, source-stamped, updated every 15 minutes.
Figures and sectors in this story, checked live against on-chain aggregators · October 29, 2026.
Token Times reads these figures directly from on-chain aggregators (DeFiLlama, mempool.space) at build time — independent of what any outlet reported. Sector totals aggregate every protocol DeFiLlama tracks in that category. Values are live and will change.
Avalanche to Power Japan's JPYC Stablecoin Tax Refunds f — questions & answers
What is the JPYC stablecoin?
JPYC is a stablecoin pegged to the Japanese yen, designed for use in everyday transactions.
When does the tax refund service launch?
The service is scheduled to begin on November 1, 2023.
Which companies are involved in the initiative?
The initiative involves Avalanche, UPBOND, Japan Tax Free, and JPYC Inc., with TronWeekly also mentioning Japan Refund.
How much is 1 Avalanche worth in rupee today?
About ₹867.26 at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $8.24. The rupee price moves with both AVAX's US-dollar price and the USDT/INR rate; use our Avalanche in rupee page for any amount.
Has Avalanche's price moved since this brief was published?
AVAX is down 0.84% since this brief first published — trading at ₹785 ($8.24) now versus ₹792 ($8.31) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from Crypto Economy, TronWeekly, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.