SBI consortium launches JPYSC, Japan’s first trust-type yen stablecoin

A consortium of five SBI-affiliated companies has launched JPYSC, described as Japan’s first trust-based stablecoin pegged to the yen. The group includes SBI Holdings, SBI Shinsei Bank, SBI Shinsei Trust Bank, SBI VC Trade and Singapore-based Startale Group. The stablecoin is issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade, according to SBI’s announcement.