[SBI Holdings and Startale Launch Yen Stablecoin JPYSC, Planned for Q2 Release] Odaily Planet Daily News: Japanese financial group SBI Holdings and Startale Group have announced the launch of the yen stablecoin JPYSC, targeting institutional and cross-border payment scenarios. The stablecoin will be issued and managed by SBI Shinsei Trust Bank, adhering to Japan's digital asset regulatory framework. SBI's trading platform, SBI VC Trade, will serve as the primary distribution channel, while Startale will handle technical development. Both parties stated that the trust bank-supported model helps enhance governance and compliance assurance, promotes the application of the yen in the digital financial system, and provides a compliant alternative to the current market dominated by USD stablecoins. The project is expected to go live in Q2 this year after obtaining regulatory approval. In recent years, Japan has been actively advancing the development of stablecoin regulations. In 2022, amendments to the Payment Services Act defined fiat-backed stablecoins as "electronic payment instruments." Last October, Japan approved JPYC to issue yen stablecoins. Additionally, the three major banks—MUFG, SMBC, and Mizuho—have also been conducting stablecoin and tokenized deposit trials. (The Block)