SBI to issue yen-pegged stablecoin JPYSC this week

Japanese financial giant SBI Group will issue a yen-pegged stablecoin, JPYSC, this week, Nikkei reported. The issuance will be managed by SBI Shinsei Trust Bank, with trading support provided by crypto firm SBI VC Trade. The stablecoin was co-developed with Singaporean fintech firm Startale Group.