BlockBeats News, May 13th - Japanese Web3 infrastructure company Startale CEO Sota Watanabe announced that the world's first bank-backed Japanese Yen stablecoin, JPYSC, will be launched in the next few months. The goal is to utilize the Yen as the lowest-cost financing currency to invest in on-chain assets with the highest growth potential, such as US stocks.

In March of this year, Startale Labs announced the completion of a $63 million Series A funding round. The round was led by Sony Innovation Fund, with participation from Samsung Next, UOB Venture Management, SBI Holdings, and other Asian industry and financial giants.