SBI officially issues Japan's first trust bank-supported yen stablecoin JPYSC
Japan's financial group SBI Holdings announced the official issuance of the yen stablecoin JPYSC, with the first issuance completed. This stablecoin is managed by SBI Shinsei Trust Bank for reserve asset management, while the licensed cryptocurrency trading platform SBI VC Trade is responsible for circulation and distribution. SBI stated that JPYSC is Japan's first yen stablecoin managed by a trust bank and is also the first to be recognized as a "similar product to electronic payment means" under the Payment Services Act. Unlike the previously launched fund transfer-type stablecoins in Japan, JPYSC is not subject to a single transaction and account balance limit of 1 million yen.
SBI expects that JPYSC will attract retail and institutional users with lower transaction costs and the ability to support large transactions, and it can serve as the yen-based asset for on-chain foreign exchange markets, institutional lending, and RWA (real-world asset) tokenized settlements. Currently, JPYSC is only available to SBI VC Trade account holders, with plans to expand its usage after regulatory and tax frameworks are further clarified. SBI also plans to launch JPYSC lending services.
In recent years, Japan has been continuously promoting compliant stablecoins to integrate into the mainstream financial system. Following the approval of JPYC in 2025 as Japan's first legally recognized yen stablecoin, Japan's three major banks—Mitsubishi UFJ Bank (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Bank—are also jointly advancing stablecoin projects, with plans to launch commercial trading in the fiscal year 2026.
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