JPYC partners with SBJ Bank and LINE NEXT for stablecoin top-up service
Summary
JPYC has partnered with SBJ Bank and LINE NEXT to explore a stablecoin top-up service that links bank accounts to digital wallets. This collaboration, formalized with a memorandum of understanding on October 20, 2026, aims to conduct a proof of concept to test the integration of bank accounts with stablecoin issuance and redemption. The service is designed to enhance user convenience for payments and transfers by connecting traditional bank accounts directly to yen stablecoin balances in digital wallets. Additionally, SBJ Bank and LINE NEXT are examining broader strategic cooperation to unify banking services with LINE NEXT's Web3 platform and Unifi wallet infrastructure.
Analysis
JPYC: JPYC株式会社 is a Tokyo-based company licensed under Japan's funds transfer regulations as the issuer of the JPYC yen-denominated stablecoin, which is backed 1:1 by yen assets and issued on multiple public blockchains. The company provides issuance and redemption infrastructure for yen stablecoins and has been actively expanding use cases in payments and digital services. It is leading the technical aspects of the proof-of-concept with SBJ Bank and LINE NEXT to enable bank account-linked stablecoin top-ups. SBJ Bank: SBJ Bank, the Japanese subsidiary of South Korea's Shinhan Bank, offers traditional banking products and services including deposits and loans to customers in Japan. The bank is contributing its account infrastructure and banking expertise to the joint proof-of-concept exploring yen stablecoin integration with digital wallets. It also plans to pursue strategic cooperation with LINE NEXT in Web3 services and new financial products following the pilot. LINE NEXT: LINE NEXT is the Web3-focused subsidiary associated with the LINE messaging platform, developing blockchain-based services including the non-custodial Unifi digital wallet and payment platform. It is providing wallet and blockchain integration capabilities for the three-party proof-of-concept that links bank accounts to JPYC stablecoin issuance and redemption. The company is expanding its stablecoin ecosystem to support seamless user experiences in payments and remittances. Partnership: JPYC, SBJ Bank, and LINE NEXT signed an MOU on October 20, 2026, to conduct a proof-of-concept testing bank account linkage with stablecoin issuance, redemption, and digital wallet integration. Ecosystem Expansion: SBJ Bank and LINE NEXT are separately exploring broader strategic cooperation to link banking services with LINE NEXT's Web3 platform and Unifi wallet infrastructure. Product Development: The collaboration aims to create a top-up service that connects traditional bank accounts directly to yen stablecoin balances in digital wallets for improved user convenience in payments and transfers.
Categories
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Related sources
- https://en.bloomingbit.io/feed/news/122648
- https://www.sbjbank.co.jp/about_sbj/
- https://pacific-meta.co.jp/magazine/reports/160055/
- https://www.sbjbank.co.jp/company/
- https://pacific-meta.co.jp/magazine/cryptocurrency/150863/
- https://finance.biggo.com/news/c5d2c4fe-03c6-4e74-8ae0-eb36a6accdcd
- https://defillama.com/stablecoin/jpy-coin
- https://prtimes.jp/main/html/rd/p/000000300.000054018.html
- https://www.neweconomy.jp/posts/619021
- https://www.sbjbank.co.jp/
- https://ja.wikipedia.org/wiki/JPYC
- https://bitnewsbot.com/line-next-launches-global-stablecoin-platform/
- https://prtimes.jp/main/html/rd/p/000000333.000054018.html
- https://en.bloomingbit.io/feed/news/118776
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- https://prtimes.jp/main/html/rd/p/000000039.000141845.html
- https://www.sbjbank.co.jp/about_sbj/about/