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Record sog_st_jpysc

JPYSCJPYSC

Also recorded as JPYSC, SBI JPYSC, Japanese Yen Stablecoin JPYSC

Restricted

Lifecycle: Restricted
Issuance: Restricted
Reference target: Japanese yen
Primary organization: SBI Shinsei Trust & Banking2 additional relationships
Launch: 2026-06-24
Redemption: Restricted
Backing: Fiat and cash equivalents
Stabilization: Issuer redemption
Last review: 2026-06-24
Evidence: 2 source records

Reviewed assessment

Identity and current state

This summary reports reviewed facts and uncertainty. It is not a rating or recommendation.

Japanese-yen stablecoin issued by SBI Shinsei Trust & Banking under a trust structure and initially distributed inside SBI VC Trade with external-wallet transfer unavailable.

Name	JPYSC
Symbol	JPYSC
Aliases	JPYSC, SBI JPYSC, Japanese Yen Stablecoin JPYSC
Asset class	Stablecoin
Lifecycle status	Restricted
Issuance status	Restricted
Canonical record ID	`sog_st_jpysc`
Route slug	`jpysc`
Record confidence	High
Last reviewed	2026-06-24

Name: JPYSC
Symbol: JPYSC
Aliases: JPYSC, SBI JPYSC, Japanese Yen Stablecoin JPYSC
Asset class: Stablecoin
Lifecycle status: Restricted
Issuance status: Restricted
Canonical record ID: sog_st_jpysc
Route slug: jpysc
Record confidence: High
Last reviewed: 2026-06-24

Record coverage

Section	Entries
Organizations	3
Sources	2
Reserve reports	1
Reserve components	2
Model-history events	0
Regulatory notes	0
Deployments	1
Issuer-control actions	0
Open questions	3
Events	1

Organizations and control

Primary display is a navigation and summary choice only. It does not replace other organizations or imply sole legal responsibility, operational control, reserve custody, or historical continuity.

Governance: Centralized
Primary display organization: SBI Shinsei Trust & Banking
Primary display role: Legal issuer
Display selection mode: Deterministic Policy
Current relationships: 3
Ended relationships: 0
Unknown relationship state: 0
Freeze capability: 0 recorded yes · 0 recorded no · 1 not recorded
Blacklist capability: 0 recorded yes · 0 recorded no · 1 not recorded
Deployment control-event references: 0
Observed issuer-control events: 0
Relationship coverage: 3 recorded relationships

All current, ended, and unknown-state organization relationships
Organization	Organization category	Regulatory character	Jurisdiction	Role	Display priority	From	Until	Relationship status
SBI Shinsei Trust & Banking	Bank, trust, or credit institution	Regulated bank, trust, or credit institution	Japan	Legal issuer	Primary display	2026-06-24	Not yet recorded	Active relationship
Startale Group	Company or corporate group	Not recorded in canonical data	Singapore	Technology provider	Additional relationship	Not yet recorded	Not yet recorded	Active relationship
SBI VC Trade	Digital-asset service or infrastructure provider	Regulated digital-asset service provider	Japan	Other recorded role	Additional relationship	2026-06-24	Not yet recorded	Active relationship

Bank, trust, or credit institution

SBI Shinsei Trust & Banking

Primary display

Functional role: Legal issuer
Relationship status: Active relationship
Regulatory character: Regulated bank, trust, or credit institution
Jurisdiction: Japan
From: 2026-06-24
Until: Not recorded

Company or corporate group

Startale Group

Additional relationship

Functional role: Technology provider
Relationship status: Active relationship
Regulatory character: Not recorded in canonical data
Jurisdiction: Singapore
From: Not recorded
Until: Not recorded

Digital-asset service or infrastructure provider

SBI VC Trade

Additional relationship

Functional role: Other recorded role
Relationship status: Active relationship
Regulatory character: Regulated digital-asset service provider
Jurisdiction: Japan
From: 2026-06-24
Until: Not recorded

Mechanism

How the asset works

Reference, backing, stabilization, exit, valuation, and yield remain separate facts.

Reference target: Japanese yen
Reference kind: Fiat
Comparison category: Japanese yen
Target value: Not yet recorded
Reference methodology: JPYSC targets one Japanese yen under a trust-bank issuance structure.
Public backing model: Fiat and cash equivalents
Canonical backing types: Bank Deposits, Government Securities
Reserve component categories: Bank Deposits, Government Securities
Primary stabilization mechanism: Issuer redemption
Recorded model description: Trust Backed Jpy Cash and Japanese Government Bonds
Redemption / exit model: Restricted
Valuation source: Public information is incomplete
Yield / rebase profile: None recorded
Classification notes: Initial account-internal launch; external-wallet transfer and public-chain circulation remain unavailable.

Reserve and redemption

Recorded components, disclosures, reports, and redemption conditions remain explicit.

Reserve components

Japanese-yen cash and deposits held in trustBank Deposits · Initial launch-level reserve category; no percentage allocation asserted.
Japanese government bonds held in trustGovernment Securities · Initial launch-level reserve category; maturity and allocation remain unresolved.

Reserve profile

Disclosure status	Official Launch Disclosure
Backing types	Bank Deposits, Government Securities
Summary	JPYSC is issued under a trust structure with Japanese-yen cash and Japanese government bond reserve assets described by the launch materials.
As of	2026-06-24
Profile confidence	High

Disclosure status: Official Launch Disclosure
Backing types: Bank Deposits, Government Securities
Summary: JPYSC is issued under a trust structure with Japanese-yen cash and Japanese government bond reserve assets described by the launch materials.
As of: 2026-06-24
Profile confidence: High

Redemption profile

Current status	Restricted
Settlement asset	JPY
Eligible parties	Eligible SBI VC Trade account holders under current platform and compliance terms.
Retail access	Eligible Platform Customers Only
Institutional access	Eligible Platform Customers Only
Minimum amount	Platform and transaction limits apply.
Fee	Initial platform materials state fixed one-to-one purchase and sale without spread; other service terms may apply.
Settlement time	Account-internal settlement; external-wallet settlement unavailable at launch.
Regional limits	Japan account and identity-verification requirements apply.

Current status: Restricted
Settlement asset: JPY
Eligible parties: Eligible SBI VC Trade account holders under current platform and compliance terms.
Retail access: Eligible Platform Customers Only
Institutional access: Eligible Platform Customers Only
Minimum amount: Platform and transaction limits apply.
Fee: Initial platform materials state fixed one-to-one purchase and sale without spread; other service terms may apply.
Settlement time: Account-internal settlement; external-wallet settlement unavailable at launch.
Regional limits: Japan account and identity-verification requirements apply.

Reserve and attestation history

Date	Publisher	Type	Assets covered	Record confidence
Not yet recorded	SBI VC Trade and SBI Holdings	Official Launch Reserve Context	Bank Deposits, Government Securities	High

SBI VC Trade and SBI Holdings

Not yet recorded

Type: Official Launch Reserve Context
Assets covered: Bank Deposits, Government Securities
Record confidence: High

Deployments and legal context

Network state, contract identity, legal notices, and value states remain separate.

Blockchain deployments

Network	Network record state	Standard	Public deployment category	Canonical deployment type	Operational state	Recorded status	Change or proposal state	Canonicality	Canonicality record state	Verification state	Contract identity state	Contract or identifier	Freeze	Blacklist	Control events	Notes
Ethereum	Specific network recorded	ERC-20	Issuer- or institution-supported deployment	Trust Issued Token	Restricted	Restricted	No separate change state recorded	Issuer-native deployment	Canonicality recorded	Source-linked record; identifier not recorded	Identifier not recorded	Identifier not recorded	Not yet recorded	Not yet recorded	0	Initial launch materials describe Ethereum-oriented issuance, but external-wallet transfer and public-chain circulation were unavailable. Contract address and transferable activation remain unresolved.

Regulatory and official notices

Date	Title	Authority / publisher	Type	Summary
No regulatory notes have been added yet.

No regulatory notes have been added yet.

Evidence

Publisher, provenance, supported claims, archive state, reliability, and publication date remain separate.

2 source identities · 2 evidence relations
Source	Publisher	Source category	Provenance	Primary or secondary	Supported claims	Archive	Reliability
JPYSC launch and initial SBI VC Trade availability Published 2026-06-24	SBI VC Trade	Official statement or announcement Canonical: Official Statement	Subject-controlled source	Primary source	Launch, Trust Bank Issuer, One to One Jpy, Cash and Jgb Reserves, Account Internal Availability, External Transfer Unavailable, Launch Issuer Reserves and Initial Restrictions	Archive index or wildcard	High
SBI Holdings and Startale Group introduce JPYSC Published 2026-02-27	SBI Holdings	Official statement or announcement Canonical: Official Statement	Subject-controlled source	Primary source	Issuer Identity, Type 3 Electronic Payment Instrument, Distribution Partner, Technology Partner, Planned Multichain Use, Issuer Distribution Technology and Product Design	Archive index or wildcard	High

Known unknowns

Known unknowns and coverage

Missing or disputed facts remain visible instead of being converted into certainty.

Open questions

Topic	What remains unclear	Value state	Priority	Last checked
External Wallet Transfer Start	The reviewed launch materials do not establish the date when JPYSC external-wallet transfer will become available.	Unknown after review	Medium	2026-06-24
Public Chain Contract and Circulation	The public contract address, first transferable deployment, and first unrestricted public-chain circulation boundary are not yet established.	Unknown after review	Medium	2026-06-24
Periodic Reserve Reporting	A normalized periodic reserve-report or attestation cadence was not established from the initial launch materials.	Unknown after review	Low	2026-06-24

External Wallet Transfer Start

The reviewed launch materials do not establish the date when JPYSC external-wallet transfer will become available.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-24

Public Chain Contract and Circulation

The public contract address, first transferable deployment, and first unrestricted public-chain circulation boundary are not yet established.

Value state: Unknown after review
Priority: Medium
Last checked: 2026-06-24

Periodic Reserve Reporting

A normalized periodic reserve-report or attestation cadence was not established from the initial launch materials.

Value state: Unknown after review
Priority: Low
Last checked: 2026-06-24

Lifecycle

History

Current classification remains separate from dated changes and incidents.

Model and lifecycle changes

No separate model-change event is currently recorded.

Event timeline

Date	Event	Category	Subtype	Status effect	Recovery
2026-06-24	JPYSC begins restricted account-internal distribution	Launch and introduction	Launch	Restricted or impaired	Not applicable

Related records and corrections

Corrections and further reading

Open connected records, methodology, machine-readable data, or report a correction.

Use these explainers to compare the legal, regulatory, reserve, redemption, or distribution questions connected to this record.

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