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, unveiled JPYSC, a trusted bank-backed Japanese yen stablecoin designed for institutional and cross-border applications, according to a Friday announcement.
The JPYSC stablecoin will be issued by SBI Shinsei Trust Bank under the Japanese regulatory framework, making it the first yen stablecoin backed by a trusted bank in the market. SBI VC Trade will handle distribution while Startale will oversee technical development.
The partners are targeting a second-quarter launch, pending final regulatory approvals.
Discussing the launch, Yoshitaka Kitao, Representative Director, Chairman and Chairman of SBI Holdings, said it aims to support the expansion of digital financial services and strengthen the link between traditional finance and emerging digital infrastructure.
“The transition to a ‘token economy’ in which all real-world assets are tokenized and tokens permeate society as a means of settlement is now an irreversible societal trend,” Kitao said.
Sota Watanabe, CEO of Startale Group, said the company aims to further integrate the global on-chain economy, positioning its yen-denominated stablecoin as a key part of future digital infrastructure.
“Our yen-denominated stablecoin is not just an everyday payment method,” Watanabe added. “It will play a central role in a fully on-chain world. In particular, we see huge potential in enabling payments between AI agents and powering the distribution of tokenized assets, which will soon become a reality.”
The move strengthens Japan’s position in regulated digital currency infrastructure as global stablecoin competition accelerates.
As one of the few major jurisdictions with a clear legal pathway for issuing stablecoins, Japan allows domestic financial institutions to develop compliant digital assets.
The project aims to challenge the dominance of dollar-pegged tokens by offering a regulated alternative to the yen suitable for treasury operations, corporate payments and international settlements.
Startale operates Astar Network and jointly develops the Soneium blockchain through a partnership with Sony Group Corporation.
