SBI Officially Launches Japan's First Trust-Bank-Custodied Compliant Yen Stablecoin JPYSC

PA一线
PA一线
PANews, June 24 – Japanese financial group SBI has partnered with Singapore-based fintech company Startale to officially issue a trust-structured yen stablecoin, JPYSC. The reserve assets will be custodied by SBI Shinsei Trust Bank, while SBI VC Trade will handle issuance and circulation. SBI stated that JPYSC is Japan’s first yen stablecoin custodied by a trust bank and classified as an "electronic payment instrument" under the Payment Services Act, meaning it is not subject to the previous per-transaction and balance cap of 1 million yen each that applies to fund-transfer-type stablecoins. SBI expects JPYSC to serve as a yen-denominated base asset for on-chain foreign exchange, institutional lending, and RWA settlement. It is currently available only to SBI VC Trade account holders, and the exchange plans to launch JPYSC lending services in the future.
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