SBI Holdings and Startale Group have unveiled JPYSC, a yen stablecoin aimed at institutional and cross-border payments, CoinDesk reported on Feb. 27.

According to Startale, JPYSC complies with Japan’s domestic digital asset regulations and is the country’s first trust bank-linked stablecoin, with issuance managed by SBI Shinsei Trust Bank. SBI Group crypto exchange SBIVC Trade will serve as a key distribution partner, while Startale leads technology development.

The two companies said they are receiving a steady stream of inquiries from institutions and businesses seeking early participation. They said this confirmed demand for a yen stablecoin across payments, cash management and cross-border payments.

The trust bank-linked model strengthens governance, oversight and operational safeguards for practical adoption in a regulated environment, the companies said.

They are also developing JPYSC to be interoperable between existing financial infrastructure and various blockchain networks.

Startale Group CEO Sota Watanabe (소타 와타나베) said, "JPYSC will not be merely a means of everyday payment, but will play a key role in a fully on-chain world." He added, "I see particularly strong potential in payments between AI agents and the distribution of tokenised assets."

The two companies are aiming to launch JPYSC in the second quarter of this year, subject to regulatory approval.