Japan's SBI Group Launches the Country's First Trust Bank-Backed Yen Stablecoin JPYSC

On June 24th, Japan's financial giant SBI Group, in partnership with Singaporean fintech company Startale Group, officially announced the launch of the trust bank-backed yen stablecoin JPYSC.

SBI states that JPYSC is Japan's first stablecoin structure managed by a trust bank, with its reserve assets managed by SBI Shinsei Trust Bank, and issuance handled by licensed crypto exchange SBI VC Trade.

Unlike previous transfer-type stablecoins, JPYSC is not limited by a 1 million yen transaction and balance cap, and aims to attract retail and corporate users through lower transaction costs and bulk trading support.

SBI says that the potential applications of JPYSC are broad, including as a yen-denominated underlying asset in on-chain foreign exchange markets, for institutional lending, and as a settlement tool for tokenized real-world assets.

Additionally, this stablecoin is Japan's first product classified as an electronic payment instrument under the Payment Services Act, marking further regulatory recognition of stablecoins.

However, until related regulations and tax treatments are clarified, JPYSC's use will be limited to SBI VC Trade accounts, which also plans to soon launch lending services for JPYSC.

Notably, Japan's three major banks (MUFG, SMBC, and Mizuho) are also jointly advancing stablecoin projects and plan to initiate commercial trading in fiscal year 2026.

In summary, the successful launch of JPYSC not only provides a new infrastructure option for the application of the yen in on-chain finance but also further promotes the country's development in the digital currency ecosystem.

#日元稳定币 #JPYSC