SBI Group Launches JPYSC, Japan’s First Trust Bank-Backed Yen Stablecoin

SBI Group has officially launched JPYSC, a trust bank backed yen stablecoin developed in partnership with Startale Group. The first issuance of JPYSC was completed on June 24, marking a significant step in Japan’s growing regulated digital asset sector.

SBI Shinsei Trust Bank will manage the stablecoin’s reserve assets, while SBI VC Trade, the group’s licensed cryptocurrency exchange, will handle distribution to users.

JPYSC Becomes First Trust Bank-Backed Stablecoin in Japan

According to SBI, JPYSC is Japan’s first stablecoin backed by a trust bank and the first to be classified as an electronic payment instrument under the country’s Payment Services Act. The company said the structure differs from fund-transfer-type stablecoins, meaning it is not subject to the 1 million yen transaction and balance limits that apply to some other digital payment instruments.

Potential Use Cases for JPYSC

SBI believes JPYSC can support a wide range of blockchain-based financial activities, including onchain foreign exchange trading, institutional lending, and settlement of tokenized real world assets.

Regulatory Clarity Remains a Key Focus

For now, JPYSC will only be available through SBI VC Trade accounts until regulatory and tax treatment guidelines become clearer. The exchange also plans to introduce a lending service for JPYSC in the future.

Japan has been steadily advancing its regulated stablecoin framework. Last year, authorities approved JPYC as the country’s first legally recognized yen-backed stablecoin, while major banks MUFG, SMBC, and Mizuho are preparing to launch commercial transactions for a joint stablecoin project during fiscal 2026.