# JPY → USD: Japanese Yen to US Dollar settlement on Sera

> Japan's domestic settlement is fast but cross-border is slow and expensive. The next wave of yen-denominated stablecoin issuance opens this corridor materially.

- **Corridor:** JPY ↔ USD (Japan ↔ United States)
- **Status:** Q2 2026
- **Bridge stablecoins:** JPYC ↔ USDC
- **Settlement speed:** Sub-second on-chain · ~15s door-to-door

## How settlement flows

JPY via Zengin → JPYC → SOR routes JPYC↔USDC → USD via FedNow.

## Local payment rails

- **Japan (JPY):**
  - Zengin (Same-day)
- **United States (USD):**
  - FedNow (Real-time — 24/7/365)
  - ACH (Same-day — Same-day & next-day)
  - Fedwire (Wire)

## Use cases

- JP outbound treasury
- Cross-border SaaS revenue
- Tourism FX

## Risk notes for liquidity providers

JPYC liquidity is currently thinner; expect step-function depth improvement as Q2 issuance ramps. LPs may see periodic widening during BoJ policy events.

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Live page with current rates: https://sera.cx/coverage/jpy-usd · Swap at https://app.sera.cx · All corridors: https://sera.cx/coverage · Full corpus: https://sera.cx/llms-full.txt