Table of Contents
On September 17, 2026, Upbit said it would add PayPal USD (PYUSD) and JPY Coin (JPYC) to KRW, BTC, and USDT markets, with deposits and withdrawals on Ethereum only.
PYUSD trading support was scheduled for 12:00 KST (05:00 CEST). JPYC trading support was delayed twice and last set for 18:00 KST (11:00 CEST) in Upbit notice updates at 11:50 and 14:50 KST.
Stablecoin Insider treats this as a named Korea venue listing of a Paxos-issued dollar stablecoin and a Japan-registered yen electronic payment means, not a generic "Asia crypto" roundup.
Key Takeaways
- Upbit listed PYUSD and JPYC on KRW, BTC, and USDT markets on September 17, 2026.
- Deposits and withdrawals for both tokens are Ethereum only per the Upbit notice.
- PYUSD trading support was set for 12:00 KST; JPYC trading support was delayed again to 18:00 KST.
- PYUSD is issued by Paxos Trust and distributed via PayPal and Venmo at 1:1 USD.
- JPYC is issued by JPYC Inc. as a Japan-registered electronic payment means at 1:1 JPY.
What Upbit listed and when
Upbit's Korean-language notice (first_listed_at 2026-09-17T09:48:01+09:00) announced new trading support for 페이팔유에스디(PYUSD) and 제이피와이코인(JPYC) across KRW, BTC, and USDT markets.
The latest update in the same notice (listed_at 2026-09-17T14:50:12+09:00) changed JPYC trading support again to 18:00 KST after earlier 12:00 and 15:00 KST schedules.
Reference prices cited in the notice around 09:40 KST put PYUSD near 1,367 to 1,376 KRW and about 0.9997 USDT, and JPYC near 8.78 to 8.81 KRW and about 0.0064 USDT.
Markets, network, contracts, and start times
| Item | PYUSD | JPYC |
|---|---|---|
| Markets | KRW, BTC, USDT | KRW, BTC, USDT |
| Deposit / withdraw network | Ethereum only | Ethereum only |
| Trading support (KST) | 2026-09-17 12:00 | 2026-09-17 18:00 (after delays) |
| Trading support (CEST) | 05:00 | 11:00 |
| Official contract | 0x6c3ea9036406852006290770bedfcaba0e23a0e8 | 0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29 |
| Issuer / distribution | Paxos Trust; PayPal / Venmo | JPYC Inc.; 1:1 JPY |
Operators should match the Ethereum contract on the notice before any deposit. Wrong-network sends are not recoverable by Upbit.
Who issues PYUSD and JPYC
PayPal USD is a 1:1 USD stablecoin issued by Paxos Trust and distributed through PayPal and Venmo. Paxos documents the mainnet ERC-20 at the same Ethereum address Upbit cites; see Paxos PYUSD mainnet docs and PayPal's PYUSD help article.
JPYC is issued by JPYC Inc. as an electronic payment means under Japan's Fund Settlement Act framework. JPYC Inc. has published registration and issuance milestones for yen-denominated electronic payment means; see JPYC Inc.'s corporate notice on first yen stablecoin issuance.
For merchant rails around PYUSD outside Korea, Stablecoin Insider already covers PayPal PYUSD Settlement for merchant rewards and PayPal Pay with Crypto.
Why this listing matters in Korea
Upbit is operated by Dunamu. In August 2026 Dunamu signed with Visa to explore stablecoin payments and remittances, which Stablecoin Insider covered in Dunamu Signs Visa Deal to Explore Stablecoin Payments.
A KRW market for PYUSD and JPYC gives Korean won books a dollar-stablecoin and a yen electronic payment means on the same venue, alongside USDT pairs that already dominate regional flow.
Stablecoin Insider's take: this is liquidity plumbing for Korea's largest exchange, not a new Korean won stablecoin. Operators watching Asia corridors should read it next to Money Moves East: The Stablecoin Corridors in Asia in 2026 and Shinhan's Visa stablecoin rails agreement.
Need the Korea and APAC corridor map for treasury and payments teams?
Related Upbit context (not the story)
Separately, Upbit notice 6579 on September 16 added USDC deposit and withdraw on Circle's Arc chain. That is related exchange plumbing, not today's listing object.
For what Arc mainnet actually opened, see Arc Mainnet Is Live With BlackRock and DTCC Validating.
What operators should do next
Confirm Ethereum-only deposit/withdraw before funding. Match the PYUSD and JPYC contracts above to the notice and to issuer docs.
Expect thin early books and Upbit's temporary trading limits. Treat KRW reference prints as venue quotes, not issuer redemption prices.
If the goal is merchant PYUSD settlement rather than Korea spot trading, start with the PayPal Settlement how-to, not the Upbit order book.
FAQ
Did Upbit list PYUSD and JPYC on September 17, 2026?
Yes. Upbit published notice id 1580532257 for new trading support of PYUSD and JPYC on KRW, BTC, and USDT markets, with first_listed_at 2026-09-17T09:48:01+09:00.
Which network does Upbit support for PYUSD and JPYC deposits?
Ethereum only, per the Upbit notice. Deposits and withdrawals were described as opening within about 1.5 hours of the notice post.
When does PYUSD and JPYC trading start on Upbit?
PYUSD trading support was scheduled for 2026-09-17 12:00 KST (05:00 CEST). JPYC trading support was delayed twice and last set for 18:00 KST (11:00 CEST) in the 14:50 KST update.
Who issues PYUSD and JPYC?
PYUSD is issued by Paxos Trust and distributed via PayPal and Venmo at 1:1 USD. JPYC is issued by JPYC Inc. as a Japan-registered electronic payment means at 1:1 JPY.
What are the official Ethereum contracts Upbit cites?
PYUSD: 0x6c3ea9036406852006290770bedfcaba0e23a0e8. JPYC: 0xE7C3D8C9a439feDe00D2600032D5dB0Be71C3c29. Always re-check the live Upbit notice before depositing.
Is this the same as Dunamu's Visa stablecoin partnership?
No. Dunamu's August 28, 2026 Visa deal was an exploration partnership. Today's story is a specific Upbit spot listing of PYUSD and JPYC on KRW, BTC, and USDT markets.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
