SBI Officially Launches Japan's First Trust Bank-Backed Japanese Yen Stablecoin JPYSC

BlockBeats News, June 24: Japanese financial group SBI Holdings announced the official launch of the Japanese Yen stablecoin JPYSC, with the first issuance completed on June 24. The stablecoin is backed by SBI Sumishin Net Bank for asset management and circulated and distributed by the licensed cryptocurrency exchange SBI VC Trade.

SBI stated that JPYSC is Japan's first Yen stablecoin with asset reserves managed by a trust bank and the first in Japan to be recognized as an "electronic payment method" under the Payment Services Act.

Unlike previous Japanese yen-denominated stablecoins, JPYSC is not subject to a cap of 1 million yen per transaction or account balance. SBI expects that JPYSC, with its lower transaction costs and ability to support large transactions, will attract retail and institutional users and serve as the Yen-based asset for on-chain FX markets, institutional lending, and settlement of Real World Asset (RWA) tokenization.

Currently, JPYSC is only available to SBI VC Trade account holders, and its usage will be expanded once regulatory and tax frameworks are further clarified. SBI also plans to introduce JPYSC lending services.

In recent years, Japan has been actively promoting the integration of compliant stablecoins into the mainstream financial system. Following the approval of JPYC as Japan's first legally recognized Yen stablecoin in 2025, Japan's three major banks—Mitsubishi UFJ Bank (MUFG), Sumitomo Mitsui Banking Corporation (SMBC), and Mizuho Bank—are also collectively advancing stablecoin projects and plan to commence commercial transactions in the 2026 fiscal year.