MV Capital | Startale Japan Issues First Digital Corporate Bond Settled in Yen Stablecoin

Startale Japan has launched a one-year secured digital corporate bond that pays interest and principal in JPYSC, marking a new use of yen stablecoins in corporate finance

Startale Japan Co., Ltd. announced the Startale Bond on October 6, 2026, describing it as Japan’s first digital corporate bond structured so that both scheduled interest payments and the final principal redemption are made in JPYSC, a yen-denominated trust-type stablecoin. The instrument is available only to individual investors and companies based in Japan and is not offered to overseas participants.

The company aims to raise approximately 99.9 million yen, equivalent to about $630,000. The bond carries a fixed annual interest rate of 5 percent before tax and has a one-year term. The minimum subscription amount is 100,000 yen, or roughly $632. Interest and principal will be paid through the Startale App rather than conventional banking rails.

Integration of Stablecoin Payments into Corporate Financing

JPYSC is issued by SBI Shinsei Trust Bank and is designed to maintain a one-to-one link with the Japanese yen. It qualifies as a Type 3 Electronic Payment Instrument under Japan’s Payment Services Act. The stablecoin was developed through a collaboration between the SBI Group and Startale Group. SBI Shinsei Trust Bank manages the trust assets that back the token, SBI VC Trade acts as the issuance trustor and oversees distribution, and Startale Group provides the underlying technology.

By routing both coupon payments and principal repayment through JPYSC, the Startale Bond places a regulated yen stablecoin inside a conventional corporate financing structure. The arrangement demonstrates onchain settlement operating within an established capital-market instrument instead of functioning solely as a separate blockchain-native product.

“By bringing finance onchain, we want to create new options for corporate fundraising and individual investment. 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.”Sota Watanabe, CEO, Startale Group Pte. Ltd.

Company Background and Broader Context

Startale Japan is a wholly owned subsidiary of Singapore-based Startale Group. The Japanese entity focuses on blockchain research, development and business partnerships with financial institutions and operating companies in the domestic market. The Startale Bond is presented as an early practical application of JPYSC beyond trading, remittances and general payments, extending the stablecoin into digital securities and corporate fundraising.

The issuance is limited to domestic investors and companies. Startale Japan serves as the legal issuer of the bond. Experience gained from the transaction is expected to inform possible future uses of yen-denominated stablecoins in capital-market activity involving businesses, financial institutions and tokenized assets.

Separately, Japan’s Finance Ministry has formed a five-member panel to examine blockchain-based government bonds. The panel’s first meeting is scheduled for October 8, 2026, with discussions expected to be compiled between December 2026 and January 2027. That government review concerns sovereign debt and remains distinct from the Startale corporate issuance.