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Japan's Yen Stablecoin Is Coming: SBI, Megabanks and JPYC in 2026
Bottom line: 2026 is Japan's yen-stablecoin moment
Stablecoins have mostly been US-dollar-based. But in 2026, Japan's yen-denominated stablecoin scene is accelerating fast, with companies and major banks moving in as the rules firm up.
Key takeaways
① JPYC launched as Japan's first regulated yen stablecoin (Oct 2025). ② SBI and Startale are planning a yen stablecoin. ③ Japan's three megabanks (MUFG, Mizuho, SMBC) are jointly exploring issuing one. The digital yen is entering a new phase.
The main players (as reported)
| Player | Move | Target |
|---|---|---|
| JPYC | Japan's first regulated yen stablecoin | From Oct 2025 |
| SBI × Startale | Planning a yen stablecoin | 2026 |
| Megabanks (MUFG / Mizuho / SMBC) | Jointly exploring issuance | By end of FY2026 (~Mar 2027) |
Why it matters
- Send and receive yen on a blockchain, quickly and cheaply
- Potential efficiency gains for payments and remittances
- Clearer regulation is building a more trustworthy foundation
"Stable" still needs checking
Even a yen stablecoin depends on its issuer, reserves and compliance. Understand how stablecoins work and their risks.
Sources
- Megabanks' joint plan (reported): https://finance.yahoo.com/markets/crypto/articles/japan-three-biggest-banks-unite-113613500.html
- SBI × Startale (reported): https://www.blockchain-council.org/cryptocurrency/japans-sbi-startale-yen-stablecoin/
- FSA: https://www.fsa.go.jp/en/
Not financial advice
This article reflects publicly reported information as of June 2026 and is not investment advice. Rules and company plans can change — confirm the latest with official sources.
This article is informational only and is not financial, investment, or trading advice. Prices are reference snapshots and may be outdated. Always do your own research.
