Japan's SBI Group Launches the Country's First Trust Bank-Backed Yen Stablecoin JPYSC
On June 24, Japan's financial giant SBI Group partnered with Singapore fintech Startale Group to officially announce the launch of the trust bank-backed yen stablecoin, JPYSC.
SBI claims that JPYSC is Japan's first stablecoin structure managed by a trust bank, with its reserve assets overseen by SBI Shinsei Trust Bank, and the issuance handled by licensed crypto exchange SBI VC Trade.
Unlike previously issued transfer-type stablecoins, JPYSC is not subject to the 1 million yen trading and balance limitations, aiming to attract retail and corporate users through lower trading costs and support for large transactions.
SBI states that JPYSC has a wide range of potential applications, including serving as a yen-denominated base asset in on-chain foreign exchange markets, institutional lending, and a settlement tool for tokenized real-world assets.
Moreover, this stablecoin is also Japan's first product classified as an electronic payment tool under the Payment Services Act, marking further regulatory recognition of stablecoins.
However, until relevant regulations and tax treatments are clarified, the use of JPYSC will be limited to SBI VC Trade accounts, and the exchange plans to launch JPYSC lending services soon.
Notably, Japan's three major banks (MUFG, SMBC, and Mizuho) are also jointly advancing stablecoin projects, intending to kick off commercial transactions in the fiscal year 2026.
In summary, the successful launch of JPYSC not only provides a new infrastructure option for the application of yen in the on-chain finance space but also further propels the country's development within the digital currency ecosystem.
#日元稳定币 #JPYSC