TL;DR:
- JPYSC, issued by SBI Shinsei Trust Bank, targets a Q2 2026 launch pending approval, with SBI VC Trade set to distribute in Japan.
- Sota Watanabe said JPYSC is not just payments, but a bridge for AI agent transfers and tokenized-asset distributions across rails.
- Japan’s Payment Services Act defines stablecoins as Electronic Payment Instruments, and Asia’s race heats up as Hong Kong licenses arrive March 2026 amid a $309 billion market.
SBI Holdings and Startale Group unveiled JPYSC, a trust bank-issued yen stablecoin targeting Q2 2026, with SBI Shinsei Trust Bank as issuer and launch contingent on regulatory approval. Distribution is slated for SBI VC Trade, while Startale, the Web3 firm behind Astar Network with ties to Sony, is leading the technical build. The plan is framed as Japan’s first trust bank-backed stablecoin, and it differentiates itself from JPYC, approved last October as a prepaid payment instrument. A trust bank format implies direct yen reserves, stronger governance, and compliance under Japan’s Payment Services Act. From launch.
🇯🇵 Startale Group and SBI Holdings introduce JPYSC, the first trust bank–backed JPY stablecoin issued by Shinsei Trust & Banking, with Startale Group building the technical foundation for regulated digital yen infrastructure.
Here's what makes JPYSC a landmark moment 👇🏻 pic.twitter.com/NcifsGY2uM
— JPYSC (@JPYStableCoin) February 27, 2026
Why JPYSC matters in Asia’s stablecoin race
Startale CEO Sota Watanabe positioned JPYSC as a digital yen built for a fully onchain economy, not merely a convenience layer for everyday purchases. He said the team sees “enormous potential” in enabling payments between AI agents and powering distributions for tokenized assets, describing both as outcomes that will soon become reality. The project is designed for interoperability across blockchain networks and traditional financial infrastructure, so settlement can flow between legacy banking rails and Web3 workflows without rewriting the entire stack. That bridge narrative is central to the rollout. It means connectivity by design today.
Japan’s policy backdrop is a stablecoin rulebook that keeps issuance inside regulated perimeters. The 2022 Payment Services Act amendments defined stablecoins as “Electronic Payment Instruments” and limited issuers to licensed banks, trust companies, and fund transfer providers. MUFG, SMBC, and Mizuho have FSA approval for a joint stablecoin pilot. In March 2025, lawmakers allowed trust stablecoin issuers to invest up to 50% of reserves in short-term government bonds. The finance minister called 2026 a “Digital Year,” as the FSA prepares crypto reclassification under the Financial Instruments and Exchange Act which further formalizes oversight expectations nationally.
Regionally, the rollout lands amid an Asia-wide licensing race that makes timing a strategic variable. Hong Kong has confirmed it will issue its first batch of stablecoin issuer licenses in March 2026 under a new Stablecoins Ordinance, and South Korea is pushing won-denominated stablecoin adoption. With over 90% of the $309 billion stablecoin market pegged to the U.S. dollar, JPYSC is framed as Japan’s push for regulated, non-USD digital rails for institutional settlement and cross-border payments. The operational milestone is clear: the Q2 2026 launch window. Pending approval, that deadline shapes readiness and distribution ramp.
