SBI Holdings Launches Yen-Pegged Stablecoin JPYSC on Ethereum Network
SBI Holdings and Startale Group launched JPYSC, a yen-pegged stablecoin on Ethereum, available to SBI VC Trade customers starting June 24.
SBI Holdings and blockchain infrastructure provider Startale Group launched JPYSC, a yen-pegged stablecoin built on the Ethereum blockchain, with availability beginning June 24 for customers of SBI VC Trade [1]. The launch marks SBI Holdings' entry into the regulated stablecoin market, leveraging its existing cryptocurrency exchange infrastructure.
SBI Holdings, a major Japanese financial services conglomerate and partner of Ripple, developed the token in collaboration with Startale Group to operate within Japan's regulated digital asset framework [1]. The stablecoin maintains a one-to-one peg with the Japanese yen and runs on Ethereum's blockchain network, giving institutional and retail users access to a regulated digital representation of the country's fiat currency.
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