SBI launches Japan's first trust-based yen stablecoin, JPYSC, with a planned launch in the second quarter.

PANews reported on February 27th that, according to The Block , Japanese financial group SBI Holdings and Startale Group have launched JPYSC , a yen-denominated stablecoin, with plans for issuance in the second quarter of this year, pending regulatory approval. The coin is issued by SBI Shinsei Trust Bank through a trust structure, with SBI VC Trade as the primary distributor and Startale handling the technology development. The project targets institutional and cross-border settlement scenarios, aiming to provide a regulated yen alternative in a market dominated by US dollar stablecoins, and supports interoperability with traditional financial infrastructure and multiple blockchain networks. Startale CEO Hajime Watanabe stated that JPYSC will also be used for AI agent payments and on-chain asset distribution in the future.