Startale Japan Co. Ltd. has announced a digital corporate bond that will pay both interest and principal in JPYSC, a yen-backed stablecoin. The product is aimed at individual and corporate investors in Japan and will not be offered to overseas investors. According to the announcement, JPYSC is issued by SBI Shinsei Trust Bank, which also manages the trust assets behind it, and the token is pegged 1:1 to the Japanese yen. It is classified as a Type III electronic payment instrument under Japan’s Payment Services Act. SBI VC Trade will act as the issuing trustee and handle issuance and distribution, while Startale Group is providing the underlying technology. Startale Group CEO Sota Watanabe said the bond is intended to test the use of JPYSC in real-world interest and principal payments. The announcement did not disclose the bond’s issuance size, coupon rate, maturity date, or investment cap for individual buyers.
Startale Japan Co. Ltd. has announced a digital corporate bond that will pay both interest and principal in JPYSC, a yen-backed stablecoin.
The bond will be offered to individual and corporate investors in Japan and will not be sold to overseas investors. According to the announcement, JPYSC is issued by SBI Shinsei Trust Bank, which also manages the trust assets backing the token. It is pegged 1:1 to the Japanese yen and is classified as a Type III electronic payment instrument under Japan’s Payment Services Act.
SBI VC Trade will serve as the issuing trustee and will oversee issuance and distribution. Startale Group is providing the underlying technology for the product.
Startale Group CEO Sota Watanabe said the bond will test the use of JPYSC in actual interest and principal payments.
The announcement did not disclose the size of the bond issuance, the coupon rate, the maturity date, or the investment limit for individual investors.
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