SBI launches Japan's first trust bank-backed yen stablecoin JPYSC, limited to SBI VC Trade
The Block •
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Promote with Leviathan NewsSBI Group launched JPYSC on June 24 with Startale, with SBI Shinsei Trust Bank managing issuance and SBI VC Trade handling distribution. SBI says the yen stablecoin is Japan's first trust bank-backed stablecoin and first of its kind classified as an electronic payment instrument under the Payment Services Act, avoiding the ¥1 million transaction and balance caps that apply to fund-transfer-type stablecoins. Access is still limited to SBI VC Trade accounts while regulatory and tax treatment gets clarified, but SBI is already positioning JPYSC for onchain FX, institutional lending, RWA settlement, and a future lending service.
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