Startale Japan Pioneers JPYSC Adoption With Japan's First Corporate Bond Interest and Principal Redemption Payments in Yen Stablecoin
The landmark issuance brings yen-denominated stablecoin payments into real-world corporate finance, with both interest and principal redemption paid in JPYSC.
Startale Japan today announces a corporate bond pilot in Japan (“Startale Bond”), which is a digital corporate bond that will pay both interest and principal redemption in JPYSC, a yen-denominated trust-type stablecoin.
The issuance marks Japan’s first [1] digital corporate bond to pay both interest and principal redemption in a yen-denominated trust-type stablecoin. More than a new investment product, the Startale Bond puts JPYSC into an actual corporate financing transaction, creating a real-world test case for how stablecoins can support the movement of capital through traditional financial instruments.
By using JPYSC for interest and principal redemption payments throughout the life of a corporate bond, Startale Japan is pioneering a new use case for yen-denominated stablecoins and establishing a model that can potentially be extended to other businesses and financial institutions exploring the use of JPYSC.
Putting JPYSC to Work: What the Startale Bond Demonstrates
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Bringing JPYSC beyond blockchain-native transactions The issuance demonstrates how a yen-denominated stablecoin can be incorporated directly into a conventional financial instrument, creating a bridge between Japan’s existing financial markets and onchain infrastructure.
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Testing onchain payments across a bond’s lifecycle Both scheduled interest payments and final principal redemption will be made in JPYSC. This creates an opportunity to examine how onchain settlement can function across multiple stages of a corporate financing transaction.
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Building a model for broader adoption The experience gained through the issuance will help Startale Japan evaluate future JPYSC use cases with businesses and financial institutions, including applications involving stablecoins, tokenized assets and onchain 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.”
About JPYSC
JPYSC is a yen-denominated trust-type stablecoin issued by SBI Shinsei Trust Bank. It is designed to track the Japanese yen at a 1:1 value and qualifies as a Type 3 Electronic Payment Instrument under Japan’s Payment Services 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 serves as the issuance trustor and leads issuance and distribution and Startale Group is responsible for the technology driving JPYSC.
About Startale Japan
Startale Japan Co., Ltd. is a wholly owned subsidiary of Singapore-based Startale Group. It leads blockchain research and development and business development in the Japanese market, working with financial institutions and operating companies to develop financial services and infrastructure using blockchain technology.
About the Startale Bond
- The Startale Bond is limited to individual investors and companies in Japan.
- It is a digital corporate bond to pay both interest and principal redemption in a yen-denominated trust-type stablecoin.
- Full offering terms and application requirements are available at startale.com/bond
Notes [1] As a digital corporate bond that pays interest and redemption in a yen-denominated trust-type stablecoin. As of September 30, 2026, based on Startale Japan research.