JPYSC targets Q2 2026 launch under Japan PSA

Key Takeaways:

• Yen-denominated stablecoin by SBI Holdings and Startale, issued via SBI Shinsei Trust Bank.
• Trust bank-backed token for domestic circulation and cross-border use within Japan.
• First trust-bank yen stablecoin under Japan’s 2023 Payment Services Act framework.

JPYSC is a yen-denominated stablecoin jointly unveiled by SBI Holdings and Startale Group, with issuance managed by SBI Shinsei Trust Bank, as reported by The Block. It is designed as a trust bank-backed instrument intended for circulation within Japan and in cross-border contexts.

Japan’s Financial Services Agency operates a Payment Services Act framework, revised in 2023, that permits issuance by banks, trust companies, and money transfer operators, according to Yahoo Finance. Within that context, JPYSC is positioned as Japan’s first trust bank-backed yen stablecoin under the new rules.

The stablecoin is targeting a launch in Q2 2026, subject to regulatory approval, as reported by CryptoBriefing. The timing underscores a compliance-first path within the FSA’s supervisory regime.

SBI VC Trade is set to distribute the token, while Startale will lead the technical stack and programmability, as per CryptoTimes. Issuance by SBI Shinsei Trust Bank reflects a trust-bank issuance model aligned with Japan’s regulated stablecoin category.

SBI frames JPYSC as infrastructure that connects traditional finance with onchain markets. “This is part of Japan’s transition to a Token Economy, accelerating digital financial services fully integrated with traditional finance,” said Yoshitaka Kitao, Chairman and President of SBI Holdings.

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