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

CoinFeed, June 24 – Japanese financial group SBI, in partnership with Singapore-based fintech company Startale, has officially issued the trust-structured yen stablecoin JPYSC. Reserve assets are custodied by SBI Shinsei Trust Bank, while SBI VC Trade handles issuance and circulation. SBI states 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, exempt from the previous 1 million yen per-transaction and balance caps applicable to fund-transfer-type stablecoins. SBI expects JPYSC to serve as a yen base asset for on-chain forex, institutional lending, and RWA settlement. Currently, it is only available to SBI VC Trade account holders, with the exchange planning to launch JPYSC lending services later.