The landmark issuance brings yen-denominated stablecoin payments into real-world corporate finance, with both interest and principal redemption paid in JPYSC

Tokyo, Japan — October 6, 2026 — Startale Japan today announced Startale Bond, Japan's¹ first digital corporate bond to pay both interest and principal redemption in a yen-denominated trust-type stablecoin. In practical terms, the corporate bond pays out to bondholders over its lifecycle in a yen stablecoin rather than through traditional payment rails, replacing the bank transfers that typically settle corporate bond coupon and redemption payments.

The issuance places JPYSC, a yen-denominated trust-type stablecoin issued by SBI Shinsei Trust Bank, directly into corporate financing transactions. Both scheduled interest payments and the final principal redemption will be made in JPYSC, marking the first time this structure has been used for a digital corporate bond in Japan. In a trust-type structure, the assets backing the stablecoin are held and managed by a trust bank, the arrangement under which JPYSC is designed to track the Japanese yen 1:1.

Startale Japan Co., Ltd. is the legal issuer of the Startale Bond. The bond is limited to individual investors and companies in Japan and is not being offered to overseas investors, keeping the pilot within Japan's domestic regulatory framework.

A New Use Case Beyond Blockchain Transactions

The issuance represents a new use case for JPYSC beyond blockchain transactions, bringing a yen-denominated stablecoin into an established corporate financing structure. By using JPYSC for both interest and principal redemption payments, Startale Japan is demonstrating how stablecoin infrastructure can connect with traditional financial instruments and Japan's existing capital markets.

“By bringing finance onchain, we want to create new options for corporate fundraising and individual investment,” said Sota Watanabe, CEO, Startale Group Pte. Ltd. “With this bond issuance, we are piloting JPYSC for actual interest and principal redemption payments. Learnings from this initiative will allow us to eventually expand this mechanism to a wide range of businesses across Japan, creating new mechanisms where people can continuously support companies through investment. We will continue pushing this frontier with the hope that, looking back in the years to come, this initiative will be remembered as a major turning point in finance.”

Stablecoins have largely been associated with crypto trading, payments and remittances. Startale Bond extends their use into corporate finance by making JPYSC the payment mechanism across multiple stages of a bond's lifecycle, covering both scheduled payments and the final repayment of principal. The structure creates a real-world example of how onchain settlement can operate within a conventional financial instrument rather than as a separate blockchain-native product.

For Startale, SBI and Japan's wider financial sector, the issuance also establishes a model for how yen-denominated stablecoins could play a role in future capital-market activity. The experience gained through Startale Bond can inform potential applications involving businesses, financial institutions, tokenized assets and other forms of onchain finance. Whether the learnings from this pilot translate into wider adoption among Japanese businesses, as Watanabe outlined, will be a key development to watch as the structure moves beyond a single issuance.

Built Through the SBI–Startale Collaboration

JPYSC was developed through a collaboration between SBI Group and Startale Group. SBI Shinsei Trust Bank issues JPYSC and manages the trust assets backing it, SBI VC Trade serves as the issuance trustor and leads issuance and distribution, while Startale Group is responsible for the technology supporting JPYSC.

The Startale Bond brings those pieces together in a corporate financing transaction for the first time, demonstrating how a regulated yen stablecoin can move beyond digital-asset markets and become part of the infrastructure supporting established financial instruments.

About JPYSC

JPYSC is Japan's first² trust-type yen-denominated stablecoin, issued by SBI Shinsei Trust Bank. It is designed to track the Japanese yen 1:1 and qualifies as a Type 3 Electronic Payment Instrument under Japan's Payment Services Act, the classification that covers stablecoins and other electronic means of payment under the act.

JPYSC was developed through a collaboration between the SBI Group and Startale Group. SBI Shinsei Trust Bank issues the stablecoin and manages the trust assets backing it, SBI VC Trade leads issuance and distribution as the issuance trustor, and Startale Group is responsible for the technology. The aim is to expand its use across remittances, payments, digital securities, and a wide range of other financial transactions.

About Startale Japan

Startale Japan Co., Ltd. is a wholly owned subsidiary of Singapore-based Startale Group. The company leads blockchain research and development and business development in the Japanese market, working with financial institutions and operating companies to plan and build financial services using blockchain technology.

Notes

1. As a digital corporate bond that pays both interest and principal redemption in a yen-denominated trust-type stablecoin. As of September 30, 2026, based on Startale Japan research.
2. As a trust-type yen-denominated stablecoin in Japan. As of September 7, 2026, based on research by SBI Shinsei Bank and SBI VC Trade.

Source: Chainwire