PANews, June 23 — According to a report by Nikkei, SBI Group has recently received approval from Japan’s Financial Services Agency and will issue the yen-pegged stablecoin JPYSC within this week. The coin is issued by SBI Shinsei Trust Bank, with SBIVC Trade responsible for circulation and exchange as a crypto asset trading platform. SBI plans to integrate JPYSC with the group’s securities, crypto asset, banking, and other financial services to enhance the convenience of fund settlement and asset trading. The stablecoin is jointly developed by SBI and Singapore-based fintech company Startrail Group, adopts a trust-based structure, and is positioned as the first such trust-type stablecoin project in Japan.