SBJ Bank to Launch Yen Stablecoin Pilot With JPYC, LINE NEXT
Shinhan Bank's Japanese subsidiary SBJ Bank is pursuing a yen-denominated stablecoin pilot initiative in collaboration with JPYC and LINE NEXT.
SBJ Bank, the Japanese subsidiary of South Korea’s Shinhan Bank, is set to pursue a Japanese yen stablecoin pilot program in partnership with stablecoin issuer JPYC and Web3 company LINE NEXT, according to bloomingbit.
Yen Stablecoin Initiative
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The joint project aims to explore and test the feasibility of a yen-backed stablecoin ecosystem in Japan's domestic market. SBJ Bank will collaborate with JPYC, a fintech firm focused on yen-pegged digital assets, alongside LINE NEXT, the Web3 venture arm of regional messaging giant LINE.
Key facts
- SBJ Bank is the Japanese banking unit of Shinhan Bank.
- The initiative includes stablecoin provider JPYC and Web3 venture LINE NEXT.
- The pilot focuses on Japanese yen-denominated stablecoin implementation.
Source: news.google.com
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