SBI Holdings, Startale Group to issue first trust-based yen stablecoin JPYSC under Japan’s framework

SBI Holdings, a leading Japanese financial conglomerate, and Startale Group, the firm behind the Astar blockchain network, have announced the upcoming launch of JPYSC, a Japanese yen stablecoin backed by SBI Shinsei Trust Bank. This marks the first trust bank-backed yen stablecoin issued under Japan’s regulatory framework. SBI VC Trade will manage distribution, while Startale will focus on technical development, with a planned launch in the second quarter, pending regulatory approval. SBI Holdings’ Yoshitaka Kitao emphasized the project’s role in expanding digital financial services and bridging traditional finance with digital infrastructure, viewing the tokenization of assets as an irreversible trend. Startale Group’s Sota Watanabe highlighted the stablecoin’s potential in powering payments between AI agents and distributions for tokenized assets. The initiative strengthens Japan’s position in the regulated digital currency space and aims to provide a yen-based alternative to dollar-pegged stablecoins for various financial applications.

(Source：Crypto Briefing)