Sony Bank and JPYC to Test Direct Yen Stablecoin Purchases From Bank Accounts
Japan’s amended Payment Services Act took effect in June 2023, bringing stablecoins under regulation as “electronic payment instruments.” JPYC Inc. began issuing JPYC, which is pegged one-to-one to the yen, on October 27, 2025. Sony Bank’s initiative links bank accounts with on-chain assets to lower barriers to money transfers and create a compliant gateway for digital spending on products such as games and music.
Sony Bank and JPYC signed a memorandum of understanding on strategic cooperation on March 2, 2026. The project will be led by BlockBloom, a wholly owned Web3 subsidiary of Sony Bank that began operations on October 1, 2025. The companies will test instant account debits that allow customers to buy JPYC on JPYC EX directly with bank deposits. They will also study automated multiple deposits and payments involving entertainment intellectual property. No launch date, fees or purchase limits were disclosed.
All Coverage
2 original reportsThe Backstory
The history behind this eventJapan's SBI and Startale Launch First Trust-Based Yen Stablecoin JPYSC
Japan amended its Payment Services Act in 2023 to regulate stablecoins as “electronic payment instruments.” SBI Holdings and Startale Group jointly developed JPYSC, with SBI Shinsei Trust & Banking managing reserves and issuing the token and SBI VC Trade handling distribution. Unlike stablecoins issued by fund transfer service providers, the trust-based structure is not subject to the ¥1 million limit. It targets cross-border settlement, real-world assets (RWAs) and AI agent payments.
The companies unveiled the JPYSC name and logo on February 27, 2026, and initially planned a second-quarter launch. It was formally issued on June 24 and is initially restricted to SBI VC Trade accounts, with transfers to external wallets not yet available. Technical and operational preparations are complete, but circulation on public blockchains and round-the-clock settlement for cross-border payments and tokenized assets will begin only after regulatory and tax treatment is clarified and authorities provide confirmation.
Subscribe to Mark Radar Weekly
Every Friday, the week's strongest signals in your inbox. Unsubscribe anytime.
If you search news on Google, you can set Mark Radar as a preferred source—our coverage will show up more often in your results. Set as preferred source on Google →