Startale Group, a Tokyo-based blockchain infrastructure company behind Japan’s largest public network Astar, and SBI Holdings, one of the country’s leading financial conglomerates, announced JPYSC, a trust bank-backed Japanese yen stablecoin designed for institutional investors and cross-border applications, according to an announcement on Friday.
The JPYSC stablecoin will be issued by SBI Shinsei Trust Bank under the Japanese regulatory framework and will be the first trust bank-backed yen stablecoin on the market. SBI VC Trade will be in charge of distribution, and Startail will oversee technology development.
The partners are aiming for a second-quarter launch, pending final regulatory approval.
Yoshitaka Kitao, Chairman and President of SBI Holdings, explained the launch and said it aims to support the expansion of digital financial services and strengthen collaboration between traditional finance and emerging digital infrastructure.
“The transition to a ‘token economy,’ where all assets in the real world are tokenized and tokens permeate society as a means of payment, has now become an irreversible social trend,” Kitao said.
Startail Group CEO Sota Watanabe said the company aims to bring more of the global economy on-chain and sees yen-denominated stablecoins as a key component of future digital infrastructure.
“Our yen-denominated stablecoin is more than just a means of everyday payment,” Watanabe added. “This will play a central role in a fully on-chain world. In particular, we see great potential in enabling payments between AI agents and enhancing the circulation of tokenized assets, both of which will soon become a reality.”
The move strengthens Japan’s position in regulated digital currency infrastructure as global competition for stablecoins accelerates.
As one of the few major jurisdictions with a clear legal pathway for stablecoin issuance, Japan enables domestic financial institutions to develop compliant digital assets.
The project aims to challenge the dominance of dollar-pegged tokens by providing a regulated yen alternative suitable for treasury operations, corporate payments, and international payments.
Startale operates the Astar Network and is co-developing the Soneium blockchain through a partnership with Sony Group Corporation.
