SBI Shinsei Trust Bank Launches JPYSC, Japan's First Type III Yen Stablecoin, on June 24

SBI Shinsei Trust Bank issued JPYSC on June 24, 2026, making it Japan's first Type III trust-backed yen stablecoin, according to Bitcoin.com News. The token maintains a 1:1 peg to the Japanese yen with reserves held in segregated accounts, carrying no daily or remittance transaction caps. Reserves can include deposits and up to 50% Japanese Government Bonds, enabling potential yield generation unavailable to competing yen stablecoin models.

The $63 million Series A funding round backing JPYSC was led by SBI Holdings at $50 million, with Sony contributing $13 million. Distribution began through SBI VC Trade, the group's crypto exchange. Broader public blockchain circulation and multi-chain support, including Strium L1 and Soneium, remains pending regulatory and tax clarity.