SBI Group to Issue First Trust-Based Yen Stablecoin JPYSC

BlockBeats News, June 23rd, SBI Group has obtained approval from the Japanese Financial Services Agency to issue the JPYSC, a stablecoin pegged to the Japanese Yen, within this week, becoming the first domestic trust-based stablecoin in Japan. The stablecoin is issued by SBI Sumishin Net Bank, traded on SBIVCTrade, and jointly developed with the Singaporean fintech company Startale Group. SBI Group plans to integrate JPYSC deeply into its various financial services, including securities, cryptocurrency, and banking, to enhance user accessibility.