Key Takeaways:
- Yen-denominated stablecoin by SBI Holdings and Startale, issued via SBI Shinsei Trust Bank.
- Trust bank-backed token for domestic circulation and cross-border use within Japan.
- First trust-bank yen stablecoin under Japanโs 2023 Payment Services Act framework.
JPYSC is a yen-denominated stablecoin jointly unveiled by SBI Holdings and Startale Group, with issuance managed by SBI Shinsei Trust Bank, as reported by The Block. It is designed as a trust bank-backed instrument intended for circulation within Japan and in cross-border contexts.
Japanโs Financial Services Agency operates a Payment Services Act framework, revised in 2023, that permits issuance by banks, trust companies, and money transfer operators, according to Yahoo Finance. Within that context, JPYSC is positioned as Japanโs first trust bank-backed yen stablecoin under the new rules.
The stablecoin is targeting a launch in Q2 2026, subject to regulatory approval, as reported by CryptoBriefing. The timing underscores a compliance-first path within the FSAโs supervisory regime.
SBI VC Trade is set to distribute the token, while Startale will lead the technical stack and programmability, as per CryptoTimes. Issuance by SBI Shinsei Trust Bank reflects a trust-bank issuance model aligned with Japanโs regulated stablecoin category.
SBI frames JPYSC as infrastructure that connects traditional finance with onchain markets. โThis is part of Japanโs transition to a Token Economy, accelerating digital financial services fully integrated with traditional finance,โ said Yoshitaka Kitao, Chairman and President of SBI Holdings.
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JPYSC targets Q2 2026 launch under Japan PSA
Trust-bank issuance under Japan's PSA positions it for distribution via SBI VC Trade; SBI and Startale target a Q2 2026 launch of the JPYSC yen stablecoin.
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