BANK OF YAN · ヤン銀行 · EST. 2026
From paper yen to protocol-native settlement.
A fictional archive of Japan's monetary migration from ¥EN to YAN. The photographs are real; the ending is ours.
1922 · Scan by NYPL
In 2026 Japan intervened to defend the yen; foreign reserves fell sharply in August as foreign securities were sold to fund it.
A currency defended with reserves is a currency waiting for a successor.
Japan held $1,116.7 billion in U.S. Treasury securities as of 2026-06 — the largest non-U.S. holder.
The reserve that props the yen is the reserve the yen cannot spend.
In 2022, 336 government tasks could not immediately give up fax; in 2021, 48.5% of SME order-taking was electronic.
A paper state cannot issue digital money. It can only replace itself.
HyperEVM produced its first block on 18 February 2025 03:36:20 UTC. It inherits HyperBFT security; HYPE is its gas.
Money no longer needs a printing bureau. It needs infrastructure.
Japan / the yen
1600s
First paper
Yamada Hagaki circulates in the Ise region — regarded as Japan's earliest paper money.
1868
National paper currency
The Meiji government issues Dajokan-satsu, the first government notes to circulate nationwide.
1871
The yen is born
The New Currency Act establishes the yen as Japan's monetary unit.
1877
Domestic banknote production
The predecessor of the National Printing Bureau manufactures Japan's first domestically produced banknotes.
1882
Bank of Japan
The Bank of Japan is founded; its first note, the Daikoku 10 yen, follows in 1885.
1984-11-01
Series D
Fukuzawa Yukichi (¥10,000), Nitobe Inazō (¥5,000), Natsume Sōseki (¥1,000).
2004-11-01
Series E
Fukuzawa Yukichi (¥10,000), Higuchi Ichiyō (¥5,000), Noguchi Hideyo (¥1,000).
2024-07-03
Series F
Shibusawa Eiichi (¥10,000), Tsuda Umeko (¥5,000), Kitasato Shibasaburō (¥1,000). The National Printing Bureau supplies roughly three billion notes a year to the Bank of Japan.
2026-06
$1,116.7 billion
Japan holds $1,116.7 billion in U.S. Treasury securities — the largest non-U.S. holder, down from $1,143.1 billion in May.
2026
End of paper
The Yen Transition Act terminates physical currency production. No further banknotes will be issued. ¥EN → ¥AN.
¥EN → ¥AN
Convergence · 融合
ヤン2026
A new monetary era
Hyperliquid / the network
Founders
Self-funded
Hyperliquid Labs is founded by Harvard classmates Jeff Yan and iliensinc, without outside capital.
2023-11-01
Points program
The Hyperliquid points program begins.
2024-05-29
L1 points phase
The L1 phase of the points program runs until November 2024.
2024-11-29
HYPE genesis
The HYPE Genesis Event opens core functionality across the Hyperliquid stack.
2025-02-17
HyperEVM is live
Initial mainnet release of HyperEVM. Blocks are built as part of L1 execution and inherit HyperBFT security; HYPE is the gas token.
2025-10
HIP-3 builder-deployed perps
Builder-deployed perpetuals go live; the xyz dex lists FX, indices and equities — including the USD/JPY oracle this portal reads.
Today
One financial state
HyperCore holds the financial primitives, HyperEVM the programmable layer; both secured by HyperBFT. "Infrastructure to house all finance."
2026
YAN made money native to it
Hyperliquid put finance onchain. HyperEVM made finance programmable. YAN made money native to it.
There are no photographs of a chain. Its history is read from the chain itself.
MINISTRY OF YAN · 通貨局
Yen Transition Act
円移行法
Document No. MOY-TRANSITION-004
Cabinet meeting materials
閣議資料
POLICY APPENDIX · TECHNICAL MEMORANDUM · IMPLEMENTATION TIMELINE · RELATED STATUTES
FAX TRANSMISSION · FAX受信
RECEIVING TRANSMISSION…
■■■■■■■■■□□□ 73%
FROM: MINISTRY OF YAN
TO: BANK OF YAN
PAGES: 8
STATUS: RECEIVING…
No more banknotes.
No more paper.
YAN is digital.
Native to HyperEVM. · ¥EN → ¥AN