Japan’s SBI Group has launched JPYSC, a new yen-backed stablecoin that it says is the country’s first trust bank-backed stablecoin and the first to be classified as an electronic payment instrument under Japan’s Payment Services Act.
The stablecoin was introduced on Wednesday in partnership with Singapore-based blockchain firm Startale Group. SBI confirmed that the first issuance of JPYSC has already been completed, marking a new step in Japan’s efforts to bring regulated digital assets into the financial system.
🚀国内初の信託型円建てステーブルコイン「#JPYSC」の取扱いを開始！
✅ 100万円制限のないステーブルコイン
✅ 大口送金・法人利用にも対応
✅ オンチェーン金融時代の円建て決済基盤まずはVCTRADEサービス口座内で先行提供を開始！
日本円の新たなデジタル決済基盤の実現に向けた一歩へ。… pic.twitter.com/wCWD2lOLBT
— VCTRADE公式 (SBI VCトレード株式会社提供） (@sbivc_official) June 24, 2026
Japan’s first trust bank-backed stablecoin goes live
Under the structure, SBI Shinsei Trust Bank manages the reserve assets backing JPYSC, while crypto exchange SBI VC Trade handles distribution to users.
According to SBI, the trust-based model distinguishes JPYSC from other stablecoins currently available in Japan. The company said the stablecoin does not fall under the transaction and balance limits that apply to fund-transfer-type stablecoins, removing restrictions that can affect larger transactions.
For now, access to JPYSC will be limited to users with SBI VC Trade accounts. SBI said more availability will depend on further clarity around the stablecoin’s regulatory and tax treatment.
Why is SBI betting on JPYSC?
SBI believes JPYSC can play a important role in Japan’s growing digital asset economy by providing a regulated yen-denominated settlement asset for blockchain-based transactions.
The company said the stablecoin could support a range of use cases, including onchain foreign exchange trading, institutional lending, and settlements involving tokenized real-world assets. Lower transaction costs and support for larger transactions are also expected to make the stablecoin attractive to both retail and corporate users.
SBI VC Trade is also preparing to launch a lending service for JPYSC, expanding its potential use within the digital asset ecosystem.
What does it mean for Japan’s stablecoin market?
The launch comes as Japan approved fintech firm JPYC’s yen-backed stablecoin in 2025, making it the first legally recognized stablecoin of its kind in Japan.
Meanwhile, Japan’s three largest banking groups, Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corporation and Mizuho Financial Group, are jointly developing a stablecoin project and plan to begin live commercial transactions during fiscal 2026.
With JPYSC now live, SBI is positioning itself at the centre of Japan’s push to create a regulated, yen-based infrastructure for onchain finance.
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