Startale Group, a Tokyo blockchain infrastructure firm behind Astar, and financial conglomerate SBI Holdings announced JPYSC, a trust bank-backed Japanese yen stablecoin aimed at institutional and cross-border use. The token will be issued by SBI Shinsei Trust Bank under Japan’s regulatory framework, marking the first trust bank-backed yen stablecoin. SBI VC Trade will manage distribution while Startale handles technical development.
The partners are aiming for a second-quarter launch, subject to final regulatory approvals.
Yoshitaka Kitao, Representative Director, Chairman, and President of SBI Holdings, said the initiative supports expansion of digital financial services and links traditional finance with emerging digital infrastructure. “The transition to a ‘Token Economy’ where all real-world assets are tokenized and tokens permeate society as a means of settlement is now an irreversible societal trend,” he stated.
Sota Watanabe, CEO of Startale Group, said the yen-denominated stablecoin will help bring more of the global economy onchain and serve as core digital infrastructure. “Our yen-denominated stablecoin is not just a means of everyday payment,” Watanabe added. “It will play a central role in a fully onchain world. In particular, we see enormous potential in enabling payments between AI agents and powering distributions for tokenized assets, both of which will soon become reality.”
The project reinforces Japan’s position in regulated digital currency infrastructure as global stablecoin competition intensifies. With one of the few clear legal pathways for stablecoin issuance, Japan is enabling domestic financial institutions to develop compliant digital assets. The partners expect JPYSC to offer a regulated yen alternative to dollar-pegged tokens for treasury operations, corporate payments, and international settlement.
Startale operates Astar Network and jointly develops the Soneium blockchain through a partnership with Sony Group Corporation.
