SBI Group Gets Approval to Launch Japan's First Trust-Backed Yen Stablecoin JPYSC

According to BlockBeats, SBI Group received approval from Japan's Financial Services Agency on June 23 and plans to launch JPYSC, Japan's first trust-backed yen stablecoin, within the week. SBI Shinsei Trust Bank will serve as the issuer, SBIVCTrade will handle trading, and the stablecoin was jointly developed with Singapore-based fintech company Startale Group.
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