SBI Group Wins Japan FSA Approval to Issue JPY Pegged Trust Type Stablecoin JPYSC This Week

SBI Group said it received approval from Japan's Financial Services Agency to issue the yen pegged stablecoin JPYSC within this week, positioning it as Japan's first trust type stablecoin. JPYSC will be issued by SBI Shinsei Trust Bank, traded on SBIVC Trade, and developed with Singapore based fintech Startale Group.