JPYSC Stablecoin Begins Allocating JPY 1 Billion to Japanese Government Bonds

ME News reports that on September 7 (UTC+8), according to the blog of Startale, the technology developer of the Japanese yen stablecoin JPYSC, SBI Shinsei Trust & Banking and SBI VC Trade have announced the commencement of investing 1 billion JPY (approximately $6.41 million) from JPYSC’s trust assets into short-term Japanese Government Bonds (JGBs). This allocation is made possible by recent regulatory adjustments in Japan, which have expanded the permissible range of stablecoin reserve assets to include certain short-term government bonds and other compliant assets. JPYSC is jointly developed by Startale and the SBI Group, with SBI Shinsei Trust & Banking serving as the issuer and responsible for trust asset management and investment, while SBI VC Trade acts as the issuing agent and electronic payment instrument exchange service provider. JPYSC is expected to support use cases such as domestic and cross-border payments and remittances, on-chain foreign exchange markets, and settlement of RWA and tokenized assets. Startale is the technology developer of JPYSC and also operates ecosystems including Soneium and Astar Network. (Source: Foresight News)