SBI Group launches Japan’s first trust bank-backed stablecoin JPYSC
The Block·
60-second summary
SBI Group is launching Japan's first trust bank-backed stablecoin, JPYSC, which will be available initially to SBI VC Trade accounts due to regulatory uncertainty. The limited rollout is a result of unclear regulatory and tax treatment of the stablecoin. Market participants are watching closely for clarification on the stablecoin's status.
JPYSC's availability will be limited to SBI VC Trade accounts, until regulatory and tax treatment of the stablecoin is clarified.