Is DeCurret profitable in 2026?

DeCurret DCP has not disclosed any revenue figures as of mid 2026. The company remains private and has raised roughly $163M across funding rounds from 2019 through its September 2024 Series B, but no public profit or revenue data exists for the DCJPY tokenized deposit business.

Could AI replace DeCurret's business?

Not the core rail. DeCurret DCP's DCJPY network is an FSA licensed, bank integrated deposit settlement system that AI cannot replicate without regulatory approval and bank partnerships. Its peripheral invoice automation PoC with Fast Accounting, announced March 12, 2026, is more AI exposed.

Who is DeCurret's biggest competitor?

Progmat, the megabank backed consortium of MUFG, SMBC, and Mizuho, is DeCurret's biggest rival. Progmat had migrated over $2 billion in tokenized assets to Avalanche by February 26, 2026, and targets 1 trillion yen in stablecoin volume by 2028.

Who owns DeCurret DCP?

Internet Initiative Japan (IIJ) is the largest shareholder with roughly 35 percent initial ownership. Its September 13, 2024 Series B added MUFG Bank, SBI Holdings, Hitachi, Fujitsu, and others, raising about 6.35 billion yen ($45 million).

Will Japan Post Bank actually use DeCurret's DCJPY network?

It is planned but unconfirmed. As of September 1, 2025 reporting, Japan Post Bank, with a 190 trillion yen deposit base and about 120 million accounts, was targeting a fiscal 2026 rollout of tokenized deposits on DCJPY, but no launch has been confirmed as shipped.

Is DeCurret the same company as the crypto exchange S.BLOX?

No. DeCurret's original crypto exchange business was sold to Singapore's Amber Group in 2022, then acquired by Sony subsidiary Quetta Web in August 2023, and rebranded S.BLOX on July 1, 2024. DeCurret DCP, the DCJPY issuer, is now a fully separate entity.

Crypto and digital asset companies · Japan

DeCurret

decurret.com ↗

FSA-licensed operator of DCJPY, a bank-backed tokenized-deposit settlement network in Japan.

Losing its protection

Assessed 26 July 2026 · Evidence as of 26 July 2026

The structural protection is eroding.

On the recordSince 26 July 2026 · Checkable from FY2026 (ends March 2027) · Every call on the record Checkpoint: Japan Post Bank's planned DCJPY tokenized-deposit rollout across its ¥190T deposit base

The call

DeCurret holds real bank licenses and live pilots, but Progmat, built by the same megabanks funding DeCurret, is already shipping and scaling faster on the same turf.

DeCurret built a regulated platform that turns bank deposits into digital tokens (called DCJPY) so companies and banks can move money faster and cheaper. The company has real licenses and partnerships with major Japanese banks, which is hard to copy. But the same big banks who back DeCurret also built their own competing system called Progmat, which already works, has over 2 billion dollars running through it, and is growing faster. DeCurret has no announced profits yet and most of its major deals have not launched. If Japan Post Bank connects its massive deposit base to DeCurret's system in 2026, it could suddenly become the standard network that everyone uses, which would change everything.

Why

AI pressure: None apparent. AI is not a predator here; DeCurret sells an AI-linked invoice-automation product (Fast Accounting) atop its own rail. Could AI do the core job? Unlikely.

Bigger players: Progmat (megabank consortium: MUFG, SMBC, Mizuho). Progmat already runs a live tokenized-asset rail past $2B and is chasing ¥1T by 2028, built by the same banks backing DeCurret. Could a giant copy it? Probably.

What protects it. FSA licensing plus multi-year bank integrations (GMO Aozora live, Japan Post Bank planned) that AI or a fast mover cannot copy quickly.

What would change this call

Japan Post Bank issues tokenized deposits on DCJPY at meaningful scale during FY2026. Would show DeCurret converting its flagship bank partnership into real institutional usage.
Fast Accounting's invoice-automation product commercially launches by December 2026 with disclosed revenue. Would show DeCurret moving from pilots to paying commercial volume.
Progmat reports tokenized-asset volume growth toward its ¥1T 2028 target during 2026. Would show the megabank-backed rival rail pulling further ahead in scale.

Key numbers

Series B raised ¥6.35bn (~$45M) from MUFG, SBI, Hitachi, Fujitsu (2024-09-13)
Progmat has scaled past $2B in tokenized assets (2025)
Japan Post Bank base: ¥190T deposits, 120M accounts, targeted FY2026 (2025-09-01)

Named risks

Japan Post Bank FY2026 DCJPY rollout could delay, scale back, or defect to Progmat. Severity: high
No disclosed revenue as of mid 2026 despite ~$163M raised since 2019. Severity: medium
Megabank-backed Progmat already shipped $2B+ tokenized assets, outpacing DCJPY commercialization. Severity: high
Same investor MUFG hedges across both DCJPY and rival Progmat rail. Severity: medium
Corporate rebrand to DCP Inc. on July 1, 2026 could cause market confusion during commercial push. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Progmat (MUFG, SMBC, Mizuho consortium)	gaining on	Migrated $2B+ tokenized assets to Avalanche by Feb 26, 2026, targets ¥1T by 2028
JPYC Inc.	contesting	Licensed yen stablecoin issuer since 2021, offers public blockchain alternative to DCJPY
Circle (USDC)	contesting	SBI VC Trade began handling USDC in April 2025 as first foreign stablecoin on Japanese exchanges
Japan Post Bank	contesting	Named DCJPY partner for FY2026 but also a scale incumbent that could hedge or delay

Questions people ask

Is DeCurret profitable in 2026?: DeCurret DCP has not disclosed any revenue figures as of mid 2026. The company remains private and has raised roughly $163M across funding rounds from 2019 through its September 2024 Series B, but no public profit or revenue data exists for the DCJPY tokenized deposit business.
Could AI replace DeCurret's business?: Not the core rail. DeCurret DCP's DCJPY network is an FSA licensed, bank integrated deposit settlement system that AI cannot replicate without regulatory approval and bank partnerships. Its peripheral invoice automation PoC with Fast Accounting, announced March 12, 2026, is more AI exposed.
Who is DeCurret's biggest competitor?: Progmat, the megabank backed consortium of MUFG, SMBC, and Mizuho, is DeCurret's biggest rival. Progmat had migrated over $2 billion in tokenized assets to Avalanche by February 26, 2026, and targets 1 trillion yen in stablecoin volume by 2028.
Who owns DeCurret DCP?: Internet Initiative Japan (IIJ) is the largest shareholder with roughly 35 percent initial ownership. Its September 13, 2024 Series B added MUFG Bank, SBI Holdings, Hitachi, Fujitsu, and others, raising about 6.35 billion yen ($45 million).
Will Japan Post Bank actually use DeCurret's DCJPY network?: It is planned but unconfirmed. As of September 1, 2025 reporting, Japan Post Bank, with a 190 trillion yen deposit base and about 120 million accounts, was targeting a fiscal 2026 rollout of tokenized deposits on DCJPY, but no launch has been confirmed as shipped.
Is DeCurret the same company as the crypto exchange S.BLOX?: No. DeCurret's original crypto exchange business was sold to Singapore's Amber Group in 2022, then acquired by Sony subsidiary Quetta Web in August 2023, and rebranded S.BLOX on July 1, 2024. DeCurret DCP, the DCJPY issuer, is now a fully separate entity.

Timeline

2026-07-01DeCurret DCP Inc. rebrands to DCP Inc. with new logo
2026-06-16Basic agreement signed with Hokuriku Bank to commercialize DCJPY payments
2026-05Seven-company pilot on distribution BMS and tokenized deposits reports success
2026-03-12PoC with Fast Accounting to automate B2B billing to payment via DCJPY
2026-02-27Japanese registry filing confirms DeCurret DCP still private and unlisted
2026-02-26Progmat migrates over $2B tokenized assets to Avalanche
2025-12DCJPY DvP pilot with SBI Securities and Daiwa Securities completed
2025-09-01Japan Post Bank reported eyeing 2026 rollout of DCJPY tokenized deposits
2024-09-13DeCurret DCP raises ~$45M Series B from MUFG, SBI, Hitachi, Fujitsu
2024-07-01Former DeCurret exchange business rebrands to S.BLOX under Sony's Quetta Web

Revision history

26 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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