USDC to JPY
Rate unavailable right now — showing the page without a live quote.
Convert USD Coin to Japanese yen at an indicative rate, and see the spread before you buy or sell through Banxa.
Yen books for USD Coin are thin, and most of a yen conversion routes through the dollar rather than being quoted natively. That extra step shows up in the spread, compounded by a domestic market that never needed a dollar stablecoin the way others did.
How converting USD Coin actually works
A dollar stablecoin conversion is really two conversions in one. USDC aims to hold a value of one US dollar, so the number here reflects what a dollar is worth in your currency, plus whatever small deviation the token itself is trading at.
Usually that deviation is negligible. USDC holds close to a dollar and the quote behaves like a currency rate with a minor crypto adjustment.
The exception is instructive and recent enough to matter. In March 2023, when Silicon Valley Bank failed with a portion of USDC's reserves held there, the token fell to around 87 cents over a weekend before recovering once the deposits were made whole. Nothing about the token's design had changed; a bank had failed. That episode is the clearest demonstration available that a stablecoin quote is a market price, not a fixed value, and that the risk sits in the reserves rather than in the code.
Reserves are held in cash and short-dated government debt and attested monthly, which is a more conventional arrangement than some alternatives, though attestation is not the same as a full audit. The distinction matters precisely because the 2023 episode was a reserve problem rather than a technical one, and reserves are the part a holder cannot inspect directly.
The figure here is indicative, averaged across continuously trading venues. What you receive differs by the spread, which for a stablecoin includes the underlying currency conversion as well as the crypto leg, and large orders settle worse than the headline as they work down the book.
Common questions
No. It is an indicative rate, which tells you roughly what an amount is worth right now. An actual purchase or sale is quoted separately at the moment you commit, and that quote includes the spread. Treat this figure as a reference point rather than an offer.
Frequently enough to be useful, and never often enough to be exact. Crypto markets run continuously, so any displayed number is already slightly behind the market by the time you read it. On a calm day the difference is negligible; during a sharp move it is not.
Because there is no single price. Each site averages a different set of venues, weights them differently, and updates on its own schedule. Two accurate sources can disagree by a fraction of a percent at any instant, and by more than that when the market is moving quickly.
The difference between what you can buy at and what you can sell at. It exists on every market, not only crypto, and it is how the venue earns its margin. Deep pairs carry small spreads. Thin ones carry wider spreads, sometimes considerably wider.
For ordinary amounts, barely. For large ones, yes. A big order works its way down the order book and the average price it achieves is worse than the price at the top of it. This is why sizeable conversions are usually split into smaller pieces rather than executed at once.
Yes. Every pair here works in both directions, and the reverse page shows the same market from the other side. The rate is not the exact inverse, because the spread applies whichever way you are going.
No. Rates are shown to anyone. An account is only needed when you want to actually buy or sell, at which point identity verification applies before any money moves.
The market keeps moving. Providers hold a quoted rate for a short fixed window so you are not chasing a number that changes as you type, and re-quote once it lapses. If a payment takes longer than that window, the rate is refreshed rather than honoured indefinitely.
USD Coin in other currencies
Other coins in Japanese yen
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Cryptocurrency prices can fall as fast as they rise. The rates on this page are information, not an offer or financial advice.