About JPYSC
JPYSC is a Japanese yen-pegged stablecoin issued as a trust-bank product, designed for on-chain yen settlement and payments under Japan's amended Payment Services Act. It was developed jointly by SBI Group (SBI Holdings, SBI Shinsei Bank, SBI Shinsei Trust Bank, and SBI VC Trade) and Startale Group, with SBI Shinsei Trust Bank handling stablecoin issuance. Development and public introduction announcements came in 2026, and the token launched on 24 June 2026 in a phased rollout within SBI VC Trade accounts. It was Japan's first trust-bank-backed yen stablecoin. JPYSC runs on Ethereum as a fiat-collateralized stablecoin. Each token is backed 1:1 by Japanese yen or equivalent assets held in trust by SBI Shinsei Trust Bank. Under Japanese law, it is classified as an electronic payment instrument rather than a conventional crypto asset. The token represents claims on yen and is used primarily as a yen-denominated settlement and payment medium on-chain, including for transfers and trading within the SBI VC Trade ecosystem. It is not used for staking or governance. Supply is uncapped and expands or contracts with issuance and redemption. Circulating supply has been reported in the tens of billions of tokens, with no fixed maximum cap. JPYSC is a regulated, bank-backed digital yen instrument aimed at domestic and cross-border payments and settlements within a closed-loop, verified-user environment.
SBI Holdings to invest $100 million in Robinhood-backed Erebor Bank
SBI's investment in Erebor could accelerate blockchain adoption in banking, enhancing cross-border transactions and stablecoin integration.
BlackRock joins SBI and Startale to explore yen stablecoin ecosystem
The collaboration could revolutionize financial transactions by integrating blockchain technology, enhancing efficiency and global market access.
Japan Financial Services Agency seeks to revise stablecoin tax rule
Revising Japan's stablecoin tax rules could streamline digital payments, enhance financial innovation, and boost larger transactions.
Dollar/yen volatility highlights risks lurking inside stablecoins
Yen-pegged stablecoins offer a local solution but still expose users to currency volatility, highlighting the complex stability challenges in global finance.
SBI completes majority stake purchase of leading Singapore crypto exchange Coinhako
SBI Holdings is acquiring a majority stake in Singapore crypto platform Coinhako, adding 400,000 users to its growing Asian digital asset empire.
ONDO Finance partners with SBI Group to tokenize Japanese assets using yen-backed stablecoin
Ondo Finance partners with SBI Group to tokenize Japanese equities using the JPYSC stablecoin for settlement. ONDO tokens surged 15-17% on the news.
A sourced map of JPYSC's relationships is on the way.
Partners, competitors and related assets, each link independently verified and source-linked before it appears here.
The Crypto Briefing podcast is on the way.
Conversations on JPYSC and the wider market, hosted by our team, will appear here once episodes are live.