Startale Group, the Tokyo blockchain infrastructure company behind Astar, and financial conglomerate SBI Holdings are launching JPYSC, a Japanese yen stablecoin backed by a trust bank and designed for institutional and cross-border use. SBI Shinsei Trust Bank will issue the token under Japan’s regulatory framework, marking the first yen stablecoin issued with trust-bank custody. Distribution will be handled by SBI VC Trade while Startale will lead technical development.
The partners are targeting a second-quarter rollout, subject to final regulatory approval. SBI says the project aims to expand digital financial services and link traditional finance with new digital infrastructure, reflecting a broader shift toward a tokenized economy. Startale describes the yen-denominated stablecoin as core digital infrastructure that can move more of the global economy onchain, enabling use cases such as payments between AI agents and distributions for tokenized assets in addition to everyday settlement.
The initiative reinforces Japan’s role in regulated digital currency infrastructure amid rising global stablecoin competition. With a clear legal pathway for issuance, Japan is enabling domestic financial institutions to offer compliant digital-yen alternatives to dollar-pegged tokens for treasury management, corporate payments, and international settlement.
Startale operates the Astar Network and co-develops the Soneium blockchain in partnership with Sony Group Corporation.