SBI officially launches Japan’s first trust bank-backed Japanese yen stablecoin, JPYSC

BlockBeats News, June 24 — Japanese financial group SBI Holdings officially announced the issuance of the Japanese yen stablecoin JPYSC, with the first issuance completed on June 24. The stablecoin is backed by SBI Shinsei Trust Bank for reserve asset management, and licensed cryptocurrency trading platform SBI VC Trade is responsible for circulation and distribution.

SBI stated that JPYSC is Japan’s first yen stablecoin managed by a trust bank for reserve assets, and also Japan’s first to be recognized as an “electronic payment method” under the Payment Services Act.

Unlike the previously launched fund transfer-type stablecoins in Japan, JPYSC is not limited by single transaction or account balance caps of 1 million yen. SBI expects that, with lower transaction costs and support for large transactions, JPYSC will attract retail and institutional users, and can serve as a fundamental yen asset for on-chain foreign exchange markets, institutional lending, and RWA (real-world asset) tokenized settlement.

Currently, JPYSC is only available to SBI VC Trade account holders, with plans to expand usage once regulatory and tax frameworks are further clarified. SBI also plans to launch JPYSC lending services.

In recent years, Japan has continued to promote the integration of compliant stablecoins into mainstream financial systems. Following JPYC’s approval in 2025 as Japan’s first legally recognized yen stablecoin, Japan’s three major banks — Mitsubishi UFJ Bank (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Bank — are also jointly advancing stablecoin projects, with plans to initiate commercial trading in the 2026 fiscal year.