JPYSC Stablecoin Puts SBI Group Ahead in Japan’s Digital Yen Race

TLDR

• SBI Group and Startale Group announced JPYSC on February 27, 2026.
• JPYSC is a yen-denominated stablecoin issued by SBI Shinsei Trust Bank.
• The project marks Japan’s first trust bank-backed yen stablecoin.
• JPYSC fits under Japan’s Type III Electronic Payment Instrument framework.
• SBI VC Trade will handle distribution, while Startale Group manages technical development.

SBI Group and Startale Group have announced JPYSC, a yen-denominated stablecoin backed by SBI Shinsei Trust Bank. The project marks Japan’s first trust bank-backed yen stablecoin under the amended Payment Services Act. FSA approval was expected around June 23 and June 24, 2026, based on Nikkei reporting.

SBI Group Brings JPYSC Under Japan’s Stablecoin Rules

SBI Group announced JPYSC with Startale Group on February 27, 2026. The stablecoin uses Japan’s Type III Electronic Payment Instrument framework.

SBI Shinsei Trust Bank serves as the issuer of the yen stablecoin. Therefore, the product sits inside Japan’s regulated trust bank structure.

The structure gives token holders statutory claims against segregated reserves. It also separates JPYSC from earlier retail-focused yen tokens.

Japan changed its Payment Services Act to create clear rules for stablecoins. The law allows banks, trust banks, and licensed firms to issue qualifying instruments.

JPYSC follows that framework through a trust bank issuer. As a result, the product targets users needing regulated yen settlement.

SBI VC Trade will handle distribution for the stablecoin. Startale Group will manage the technical development behind JPYSC.

JPYSC Targets Institutional Yen Settlement

Japan already had yen-pegged tokens before JPYSC entered the market. JPYC became a known retail token, but it carried a ¥1 million daily transaction cap.

That limit suited consumer payments, but it restricted larger settlement activity. JPYSC removes that ceiling through its trust bank model.

Startale Group co-founder Sota Watanabe has linked JPYSC to onchain payments. He also cited AI agents and tokenized assets as expected use cases.

SBI Holdings Chairman Yoshitaka Kitao described token economies as an “irreversible trend.” His comments framed JPYSC as part of SBI Group’s digital finance strategy.

The product also focuses on cross-border payments involving Japanese companies. Exporters often use correspondent banking networks, which add cost and processing time.

JPYSC aims to reduce those steps through yen-based onchain settlement. The model keeps the token tied to Japan’s legal payment framework.

Mitsubishi UFJ Financial Group has developed Progmat Coin for similar regulated stablecoin activity. Other Japanese megabanks have also studied yen stablecoin projects.

SBI Group moved ahead with a trust bank-backed product under Japan’s amended rules. FSA approval remained expected for late June 2026, according to Nikkei reporting.

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