SBI Group to Launch JPYSC Stablecoin Lending Service in July: Aiming for Market Dominance with 3% Annual Yield

As of July 13, 2026, Japanese financial giant SBI Group is strengthening its position in the domestic digital asset market by officially launching a lending service using its Yen stablecoin, JPYSC, within this month. According to a report by Nikkei, the service is expected to offer an annual yield of 3% on deposited JPYSC, which is likely to serve as an attractive investment opportunity for retail and institutional investors in Japan. This launch is significant as it is the first major financial service implemented since Japan's regulatory environment shifted in favor of trust-type stablecoins in June 2026.

SBI Group aims to introduce this service to the public before the end of July 2026. JPYSC is a stablecoin with its value pegged 1:1 to the Japanese Yen, and this lending service provides a structure where users can generate additional returns beyond simply storing their digital assets. In particular, as of July 13, 2026, SBI has set a definitive goal to start the service within this month and is reportedly conducting final system stability checks.

The issuance and operation of JPYSC are carried out through collaboration between various subsidiaries within the SBI Group and external partners. SBI Shinsei Trust Bank, as the issuer, directly manages the Yen collateral, while Startale Group, the developer of Japan's largest public network, Astar, provides the blockchain infrastructure. The issued tokens are primarily traded and managed through SBI VC Trade, and this 'trust-type' model ensures direct Yen backing of assets, enhancing user trust.

The JPYSC lending service is the first practical step for the trust-type stablecoin ecosystem in Japan, and the 3% annual yield provides a competitive edge differentiated from existing financial products.

This structural stability was made possible thanks to the amendments to Japan's Payment Services Act, which took effect on June 1 and June 13, 2026, respectively. Unlike existing 'funds transfer-type' stablecoins, the new regulatory framework granted a clearer legal status to 'trust-type' stablecoins issued by banks or trust companies. JPYSC is one of the first cases to meet these new legal standards, seeking seamless integration with the institutional financial system through regulatory approval.

Composition and Operating System of the JPYSC Ecosystem

JPYSC is designed to meet the needs of institutional investors beyond being a simple personal asset. SBI Group plans to utilize this stablecoin as a means for cross-border payment systems or future automated payments between AI agents. This is expected to create an environment where Japanese companies can participate in the digital asset ecosystem without exchange rate fluctuation risks by providing a regulated alternative to the dollar-based stablecoins that previously dominated the market. Below are the key details of the currently established JPYSC operating framework.

• Issuer: SBI Shinsei Trust Bank (Direct management of JPY collateral)
• Infrastructure Partner: Startale Group (Blockchain technology support)
• Major Exchange: SBI VC Trade (Initial exclusive supply and management)
• Lending Yield: 3% per annum (Scheduled for release in July 2026)
• Regulatory Model: Trust-based (1:1 direct JPY collateral method)

SBI's move is interpreted as a strategy to gain an advantage in competition with other large financial groups in Japan. Currently, Japanese megabanks such as MUFG, SMBC, and Mizuho Bank are developing a joint stablecoin platform called 'Progmat' through the 'Payment Innovation Project (PIP),' but SBI officially announced the issuance of JPYSC on June 24, 2026, entering the practical service stage one step ahead. Initially, JPYSC will be provided exclusively to SBI VC Trade account holders, but the plan is to gradually expand the ecosystem to external wallets and exchanges.

In the second half of 2026, foreign trust-based stablecoins are also expected to enter the Japanese market following deregulation by the Financial Services Agency (FSA) of Japan. SBI Group intends to diversify the use cases for JPYSC in preparation for such global competition and continue efforts to increase versatility through integration with permissionless blockchains. This lending service, which started as of July 13, 2026, is expected to be an important measure of the maturity of Japan's digital yen ecosystem.

Future Outlook and Regulatory Response

The Japanese Financial Services Agency is concerned about money laundering and operational risks regarding banks' use of permissionless blockchains, but the trust-based model is being evaluated as an alternative that can mitigate these concerns. SBI Group is focusing on proving the security and transparency of JPYSC through close cooperation with regulatory authorities. In particular, protecting user assets through smart contract audits and real-time proof of collateral is a top priority.

In conclusion, SBI Group's JPYSC lending service is setting a new standard for stablecoin utilization in Japan. Once the service becomes fully operational at the end of July 2026, the liquidity of digital assets in Japan is projected to improve significantly. This will be an important turning point for Japan to leap forward as a global stablecoin hub and is likely to act as a catalyst to induce participation from other financial institutions in the future.