Japan's first trust-type yen stablecoin! SBI launches JPYSC, applicable in 3 major scenarios.

Japanese financial giant SBI Group, together with Startale, launches JPYSC, Japan's first yen stablecoin backed by a trust bank, with the initial issuance completed and circulation led by its exchange.

Japanese financial giant SBI Group recently (6/24) announced the launch of "JPYSC," Japan's first yen stablecoin backed by a trust bank, in collaboration with Singapore-based fintech company Startale Group.

According to the statement, SBI completed the initial issuance of JPYSC today, with SBI Shinsei Trust Bank responsible for issuance and asset custody; SBI Group's cryptocurrency exchange SBI VC Trade serving as the primary circulation platform; and Startale leading the technology development and blockchain infrastructure integration. SBI stated in the announcement:

JPYSC is Japan's first trust structure-based stablecoin, with reserve assets managed by a trust bank. Unlike previously launched fund transfer-type stablecoins, JPYSC is not bound by legal restrictions limiting single transactions and account balances to 1 million yen.

SBI expects that JPYSC, with its lower transaction costs and support for large transactions, will attract both retail and corporate users. The company noted that JPYSC has the potential to serve as a yen-denominated base asset, applicable in on-chain forex markets, institutional lending, and settlement for real-world asset (RWA) tokenization.

However, until relevant regulatory frameworks and tax treatments are fully clarified, the use of JPYSC will be temporarily limited to platform accounts on SBI VC Trade. To stimulate the ecosystem, the exchange also revealed plans to launch a dedicated JPYSC lending service in the near future.

SBI stated that JPYSC is Japan's first trust bank-backed yen stablecoin and the first product of its kind classified as an electronic payment instrument under the Payment Services Act. SBI wrote in the announcement:

JPYSC aims to establish a yen-denominated settlement and liquidity infrastructure for on-chain financial markets both domestically and internationally.

In recent years, Japan has been advancing the integration of regulated stablecoins into the mainstream financial system. Last October, Japanese regulators approved fintech company JPYC to issue a stablecoin of the same name, making it Japan's first legally recognized yen stablecoin; Japan's three major banks—Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corporation, and Mizuho Bank—are also collaborating to develop a stablecoin, with plans to launch it commercially for the fiscal year 2026.

• This article is republished with authorization from: "Blockcast"
• Original title: "Japan's First 'Trust-Type' Yen Stablecoin! SBI Group Officially Launches 'JPYSC'"
• Original author: Block Mei Mel