SBI Holdings has announced a partnership with Startale Group to launch JPYSC, a yen-denominated stablecoin backed through a trust bank structure. The product is scheduled to go live in Q2 this year and is aimed at corporate users, especially in cross-border payment flows.
Trust bank support sits at the center of the JPYSC model
According to the announcement, JPYSC is being positioned as Japan’s first yen stablecoin backed by a trust bank. That point matters. Unlike some digital asset models issued by technology companies, the issuance and management of JPYSC will be handled by SBI Shinsei Trust Bank, giving the stablecoin a structure tied closely to Japan’s legal framework.
Under the trust arrangement, user assets are legally separated from the issuer’s own assets. That creates a clearer layer of protection for holders and aligns the product with Japan’s revised Payment Services Act requirements for “electronic payment instruments.” For institutions looking at Web3 rails, the compliance design is as important as the token itself.
SBI and Startale split responsibilities across issuance, distribution, and infrastructure
The project assigns distinct roles across the group. SBI Shinsei Trust Bank will oversee compliance, custody, and issuance. SBI VC Trade, the group’s crypto exchange, will serve as the main sales and distribution channel. Startale Group will provide the underlying technical infrastructure to support secure blockchain operations.
The companies also said JPYSC is being built with interoperability in mind. Their plan is for the stablecoin to work across different blockchain networks and connect with traditional banking settlement systems. The message is clear: this is not being framed as a closed-loop token, but as a payment tool intended to move between onchain and conventional financial environments.
Cross-border settlement, RWA, and AI payments are the stated targets
Startale CEO Sota Watanabe said the ambition for JPYSC goes beyond everyday payments. He described the stablecoin as a core component for an “Onchain World,” with three main use cases already identified: cross-border settlement, real-world asset tokenization, and payments inside the AI economy.
In practice, that means faster and lower-cost international fund transfers, support for yield distribution and trading tied to tokenized assets, and a payment medium for automated transactions between AI agents. The launch also points to a broader effort by Japanese financial players to expand the role of the yen in digital asset markets now dominated by dollar-based stablecoins such as USDT and USDC.