SBI Group, the Japanese financial conglomerate with $252 billion in total assets, plans to issue JPYSC, its yen-linked stablecoin, as early as this week. Cointelegraph reported Monday morning, citing Nikkei, that SBI has received FSA approval and will proceed with issuance within days. The launch would make SBI the first Japanese financial institution to issue a trust-bank-structured yen stablecoin under the country's Payment Services Act.
SBI Group described JPYSC in its February 2026 press release as "a trust-based stablecoin issued by Shinsei Trust and Banking Co., Ltd., under Japan's regulatory framework." The stablecoin is distributed through SBI VC Trade and co-developed with Singapore-based Startale Group. The official Q2 2026 launch target expires June 30, making the Nikkei-reported this-week timeline the final window of that commitment.
JPYSC is classified as a Type III Electronic Payment Instrument under Japan's amended Payment Services Act, which took full effect in June 2023 and whose implementing ordinances reached full enforcement on June 13. Under the trust-bank model, token holders receive a trust beneficiary right: a statutory claim on reserves held in a segregated account at SBI Shinsei Trust and Banking, legally ring-fenced from both the issuer's and the trust bank's own balance sheets under the Trust Act.
