Odaily Planet Daily reports that Japanese financial group SBI Holdings and Startale Group announced the launch of the Japanese yen stablecoin JPYSC, targeting institutional and cross-border payment scenarios. The stablecoin is issued and trust-managed by SBI Shinsei Trust Bank, compliant with Japan’s digital asset regulatory framework. SBI’s trading platform SBI VC Trade will serve as the main distribution channel, with Startale responsible for technical development.
Both parties stated that the trust bank support model helps enhance governance and compliance, promotes the use of the yen in the digital financial system, and provides a compliant alternative to the currently dominant US dollar stablecoins. The project is expected to go live in the second quarter of this year after obtaining regulatory approval.
In recent years, Japan has continued to advance the development of its stablecoin system. The 2022 revision of the Payment Services Act defined fiat-backed stablecoins as “electronic payment tools”; in October last year, Japan approved JPYC to issue a yen stablecoin. The three major banks—MUFG, SMBC, and Mizuho—have also conducted pilot projects for stablecoins and tokenized deposits. (The Block)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Polkadot to Reset Tokenomics on March 12 With Major DOT Supply and Staking Changes
Polkadot will introduce a new monetary framework on March 12 that sets DOT’s supply cap at 2.1 billion and lowers emissions by 53.6%.
The overhaul will also create a Dynamic Allocation Pool and shorten the DOT unbonding period from 28 days to 24–48 hours.
On March 12, Polkadot will reset
CryptoNewsFlash6h ago
Multiple Perpetual DEX Projects Launch Airdrop Campaigns
Gate News bot message, several decentralized perpetual exchange projects have launched active airdrop campaigns. The projects are categorized into different tiers: S-tier includes Variational, edgeX, and Nado; A-tier comprises Ethereal, GRVT, Extended, Hibachi, and Liquid; B-tier features Pacifica,
GateNews14h ago
VeChain Demonstrates Blockchain Benefits With 5.2M Wallets Earning Weekly Rewards
VeChain’s VeBetter DAO has verified 48 million actions on more than 50 apps, and 5.2M wallets can now earn B3TR every week.
VeChain’s B3TR guide details app rewards, Vote2Earn, and GM NFT incentives tied to verified onchain sustainability actions.
VeChain has presented fresh data from its Ve
CryptoNewsFlash16h ago
Sky (SKY) Token Surges After Governance Vote Cuts Emissions and Expands USDS Stablecoin Credit Infrastructure
SKY rose 10% after the network cut staking emissions and continued buybacks, tightening supply across the market.
Sky expanded the USDS credit infrastructure as lower token issuance and steady buybacks supported bullish market momentum.
SKY, the governance token of the DeFi protocol
CryptoNewsFlash16h ago
Millions Quietly Gear Up for Pi Network's Big Leap
More users are still preparing to the Pi Network global vision as they approach more adoption. New updates regarding the migration progress and ecosystem expansion throughout the network boosted the level of community discussions.
Pi Network Global Vision gets a good Community Momentum
The Pi Net
Coinfomania16h ago
Matrixport: Low retail participation, lack of new narratives, and token unlock sell-offs putting pressure on altcoins
Matrixport report indicates that meme coins underperformed expectations over the past year, mainly due to low retail participation, lack of new narratives and real-world application projects, as well as ongoing token unlock pressures, which hindered market rebounds. Despite overall pressure, some localized opportunities can still be identified.
GateNews17h ago
