Japan’s first trust bank-backed yen stablecoin launches, exempt from 1 million yen transaction and balance caps under new regulations.
SBI Group has issued JPYSC, a yen-pegged stablecoin backed by trust bank-managed reserves. The coin is classified as an electronic payment instrument under Japan’s Payment Services Act, allowing it to bypass the 1 million yen transaction and balance restrictions applied to other digital assets.
JPYSC marks the first stablecoin in Japan to leverage trust bank custody for reserve assets. It is currently accessible exclusively through SBI VC Trade accounts, with no immediate plans for broader distribution. The launch follows regulatory updates aimed at fostering digital payment innovation.
The stablecoin’s exemption from transaction limits could facilitate larger-scale institutional and retail adoption in Japan’s growing digital asset market.