SBI collaborates with Startale to launch Japan's first trust bank to custody compliant Japanese yen stablecoin JPYSC

Japanese financial group SBI has partnered with Startale to issue the Japanese yen stablecoin JPYSC as a trust structure, with reserve assets managed by SBI Shinsei Trust Bank and issuance and circulation by SBI VC Trade. JPYSC is Japan's first Japanese yen stablecoin that is managed by a trust bank and classified as an electronic payment method under the Payment Services Act. It is not subject to a single transaction or balance limit of 1 million yen. JPYSC can serve as a yen based asset for on chain foreign exchange, institutional lending, and RWA settlement. Currently, it is only open to SBI VC Trade account users, and the exchange plans to launch JPYSC lending business in the future.