SBI Holdings unveils trust bank-backed JPY stablecoin with Q2 launch target

SBI Holdings and Startale Group have unveiled JPYSC, a Japanese yen stablecoin backed by a trust bank, intended for institutional and cross-border use cases. SBI Shinsei Trust Bank will manage issuance to comply with Japanese digital asset regulations, while SBI VC Trade will handle distribution and Startale Group will lead technical development. The partners aim to expand the yen's role in digital finance by offering a regulated alternative to U.S. dollar-denominated stablecoins, noting existing institutional demand for yen-denominated stablecoins in payments and treasury management. The stablecoin is designed for interoperability across traditional infrastructure and various blockchains, with CEO Sota Watanabe highlighting its potential for AI agent payments and tokenized asset distributions. The launch is anticipated in the second quarter, pending regulatory approvals, as Japan continues to integrate regulated stablecoins into its financial system.

(Source：The Block)