According to CoinMeta, Japanese tax-free service providers japan, tax, and free announced that they will jointly launch a yen-stabilized coin jpyc tax refund service with upbond on November 1st, providing foreign tourists visiting Japan with an online tax refund channel. Under Japan's new tax-free system implemented on the same day, tourists are required to purchase goods at the taxed price first and then receive the tax refund after confirmation by customs upon departure. The new service will utilize the wallet infrastructure provided by upbond to distribute the refunds to tourists through avalanche and c-chain.