Odaily Planet Daily reports that Japanese financial group SBI Holdings and Startale Group announced the launch of the Japanese yen stablecoin JPYSC, targeting institutional and cross-border payment scenarios. The stablecoin is issued and trust-managed by SBI Shinsei Trust Bank, compliant with Japan’s digital asset regulatory framework. SBI’s trading platform SBI VC Trade will serve as the main distribution channel, with Startale responsible for technical development.
Both parties stated that the trust bank support model helps enhance governance and compliance, promotes the use of the yen in the digital financial system, and provides a compliant alternative to the currently dominant US dollar stablecoins. The project is expected to go live in the second quarter of this year after obtaining regulatory approval.
In recent years, Japan has continued to advance the development of its stablecoin system. The 2022 revision of the Payment Services Act defined fiat-backed stablecoins as “electronic payment tools”; in October last year, Japan approved JPYC to issue a yen stablecoin. The three major banks—MUFG, SMBC, and Mizuho—have also conducted pilot projects for stablecoins and tokenized deposits. (The Block)
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Paradex $DIME TGE is about to launch, and the token distribution will be announced.
Paradex announces the upcoming Token Generation Event (TGE) for its native token $DIME . Since launch, it has accumulated a total trading volume of over $250 billion, with 75,000 users. $DIME will serve as the platform's Gas token and will be listed on the Paradex spot market. Token distribution includes core contributors, community airdrops, and rewards. Paradex is a crypto derivatives liquidity network developed by the Paradigm team.
GateNews2m ago
Pi Network mainnet supply exceeds 9 billion coins! 50 million Pi coins are mapped daily to accelerate migration
Pi Network has made significant progress recently, with the total Pi coins in the mainnet wallet surpassing 9 billion, and approximately 50 million coins being mapped to user accounts daily. Meanwhile, the KYC verifier reward mechanism has entered the final testing phase and is expected to launch by the end of March. These developments will lay the foundation for a practical blockchain economy within the ecosystem.
GateNews4h ago
Pi Network Maps 50M Coins Daily as Mainnet Tops 9B
Pi Network news today shows the migration engine appears to be speeding up again. Community posts claim the Pi Core Team is now mapping about 50 million Pi coins to verified users each day. The update comes as total Pi on Mainnet wallets has moved past the 9 billion mark
Screenshots shared by
Coinfomania4h ago
VVV Token surges 100% in one week, driven by OpenClaw partnership and tightening supply
Venice Token (VVV) has recently surged by over 100%, becoming a strong asset in the market, mainly because Venice has become a provider of the OpenClaw recommendation model and has actively tightened token supply. This partnership has increased Venice's visibility and boosted demand for VVV. In the long term, the fundamentals supporting VVV come from reduced supply and ongoing DeFi integrations, but the sustainability of the market trend still requires monitoring of the partnership results and changes in the market environment.
MarketWhisper5h ago
