Japan debuts trust bank-backed yen stablecoin

JPYC Inc. raises $11.9M for yen stablecoin growth. Japan debuts JPYSC, the first trust bank-backed yen stablecoin, as Asia’s stablecoin market nears $300B.

JPYC Inc. has raised $11.9 million in Series B funding led by Asteria, marking a major milestone for regulated stablecoins in Japan. The funds will support the expansion of JPYC, a yen-pegged stablecoin operating on multiple blockchains. Asia’s stablecoin market is nearing a $300 billion valuation. While USD-pegged coins remain dominant, regional currency stablecoins are gaining traction as countries seek greater monetary sovereignty. In Japan, SBI Holdings and Startale Group have launched JPYSC, the first trust bank-backed yen stablecoin, targeting institutional finance and cross-border payments. Issued by SBI Shinsei Trust Bank, JPYSC is designed for compliance and operational reliability, with a planned launch in Q2 2026 pending regulatory approval. Unlike JPYC, JPYSC is subject to stricter regulations, backed by direct yen reserves and governed under Japan’s Payment Services Act. This positions Japan as a leader in Asia’s evolving stablecoin regulations and digital asset framework.