Japan’s SBI Holdings and Startale Group unveiled JPYSC, a trust bank-backed Japanese yen stablecoin for institutional and cross-border use cases.
According to Startale’s press release, JPYSC is Japan’s first trust bank-backed stablecoin, with issuance managed by SBI Shinsei Trust Bank in compliance with local digital asset regulations. SBI VC Trade, the group’s crypto exchange, will act as the primary distribution partner while Startale will lead technical development.
“The partners believe a trust bank-backed yen stablecoin can expand the role of the yen in digital finance and provide a regulated alternative in a market currently dominated by U.S. dollar-denominated stablecoins,” the press release said.
The two companies said early engagement from institutions and enterprises reflects demand for yen-denominated stablecoins across payments, treasury management, and cross-border settlement. A trust bank-backed model bolsters governance, oversight, and operations safeguards for meaningful adoption in regulated environments, they added.
The JPYSC initiative is also being developed to enable interoperability across traditional infrastructure and different blockchain networks, according to the statement.
“Our yen-denominated stablecoin is not just a means of everyday payment – it will play a central role in a fully onchain world,” said Startale Group CEO Sota Watanabe. “In particular, we see enormous potential in enabling payments between AI agents and powering distributions for tokenized assets, both of which will soon become reality.”
JPYSC is expected to launch in the second quarter of this year, subject to regulatory approvals.
Japan’s stablecoin push
In recent years, Japan has been putting in efforts to integrate regulated stablecoins into its mainstream financial system. In 2022, the Japanese parliament passed amendments to the Payment Services Act that recognized fiat-pegged stablecoins as “Electronic Payment Instruments.”
Last October, Japanese authorities approved fintech firm JPYC’s stablecoin of the same name, as the country’s first legally recognized yen-backed stablecoin.
Japan’s three megabanks — MUFG, SMBC, and Mizuho — also kicked off stablecoin and tokenized deposit pilots spanning payments, interbank settlement, and institutional financial services. In December, the Financial Services Agency officially announced its support for the stablecoin pilot project involving those three banks.
Meanwhile, neighboring Hong Kong announced on Wednesday that it will issue the first batch of stablecoin issuer licenses next month.
© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Trade Crypto On Coinhub Exchange
Trade Crypto On Coinhub Exchange
Stay ahead of the market by turning news insights into trading opportunities. With Coinhub Exchange, you can seamlessly buy, sell, and manage your digital assets, all in one secure platform. Take advantage of real-time market insights, deep liquidity, and fast execution for your favorite cryptocurrencies. Don’t just read about it — trade crypto now!
Disclaimer
The content of this article shown by Coinhub News, powered by The Block, is for informational purposes only and should not be construed as financial, legal, tax, or investment advice. Coinhub News and its affiliates are not a licensed financial advisor, legal advisor, broker, or tax advisor, and ... should not be considered as professional advice or a recommendation to engage in any specific investment, legal decision, or financial transaction. Cryptocurrency markets are highly speculative and volatile. Readers should perform their own independent research and consult with a qualified professional before making any financial or legal decisions. The opinions expressed in this article are those of the author and do not necessarily represent the views or opinions of the Company of its affiliates. Additionally, the Company does not make any representations or warranties regarding the accuracy, timeliness, reliability, or completeness of any information in this article. By accessing this content, you acknowledge that any reliance on the information contained in this article is solely at your own risk. The Company is not responsible for any financial losses, legal disputes, or other damages that may arise from reliance on this content or from any investment or legal decisions based on the information provided. Investing in cryptocurrencies involves substantial risks, including the risk of losing your entire investment, and you should carefully consider whether it is appropriate for your circumstances.
Read more
