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
Tokens such as HYPE, ENA, and RED will undergo significant unlocks this week.
This week, there will be large unlocks of tokens such as HYPE, ENA, RED, and others, totaling over $300 million in value. HYPE will unlock 9.92 million tokens, ENA will unlock 40.63 million tokens, RED will unlock 40.85 million tokens, and OP will unlock 19.5 million tokens. Their circulating supply proportions are 2.72%, 0.53%, 16.13%, and 0.98%, respectively.
GateNews5m ago
Michael Saylor Plans to Permanently Burn 17,000 Bitcoin
Michael Saylor plans to permanently destroy access to over 17,000 Bitcoin, emphasizing alignment with Bitcoin's core principles of sovereignty and property rights. Meanwhile, his company, Strategy, raised its STRC dividend rate to 11.50%, potentially funding more Bitcoin acquisitions.
CryptoFrontNews6h ago
Opinion: S1 snapshot completed, and S2 has been initiated
BlockBeats News, March 1 — The BSC Ecosystem Forecast Platform Opinion announced that "The snapshot for S1 has been completed, and S2 is now officially launched.
From now until March 15 at 15:59 (UTC), transaction fees are halved for a two-week period. The PTS for the last two weeks (February 15 to 28) will be calculated at double, and will be included in both S1 and S2."
GateNews10h ago
Weekly Preview | Gemini to Cease Operations in the UK; Federal Reserve Releases Economic Beige Book
News Preview:
Bitway (BTW) will be launched on March 2nd, supporting trading on Binance Alpha;
MANTRA Chain plans to upgrade to v7.0.0 software on March 3rd;
Gemini will cease operations in the UK, with customer accounts only able to withdraw starting March 5th;
HyperLiquid co-founder: 173,000 HYPE tokens will be unstaked and distributed to team members on March 6th;
RedStone (RED) will unlock approximately 40.85 million tokens at midnight Beijing time on March 7th, accounting for 16.13% of the current circulating supply, valued at about $6.2 million.
March 2nd
Macroeconomics:
At 22:45 on March 2nd, the US will release the February S&P Global Manufacturing PMI
PANews11h ago
MANTRA Final Reminder for Token Upgrade: Code update and 1:4 split will occur on March 3rd
MANTRA issues a token upgrade reminder on the X platform. The upgrade will take place on March 3rd, including a token rebranding and a 1:4 token split. Users holding OM do not need to take any action; their wallet balances will be automatically updated. Users still on the Cosmos ecosystem chain should transfer OM to MANTRA Chain as soon as possible.
GateNews12h ago
