Startale Japan Co. Ltd. has announced a digital corporate bond whose interest and principal will both be paid in JPYSC, a yen-pegged stablecoin. The offering is aimed at individual and corporate investors in Japan and will not be sold to overseas investors. 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 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 how JPYSC can be used in real-world interest and principal payments. The announcement did not disclose the bond’s issuance size, coupon rate, maturity date, or the investment limit for individual buyers.
According to ChainCatcher, Startale Japan Co. Ltd. has launched a digital corporate bond with both interest and principal to be paid in JPYSC, a yen-denominated stablecoin.
The bond is open to individual and corporate investors in Japan and will not be offered to overseas investors.
JPYSC is issued by SBI Shinsei Trust Bank, which also manages the trust assets backing it. The stablecoin 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 handle issuance and distribution, while Startale Group provides the underlying technology.
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 cap for individual investors.
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