JPYC Signs Memorandum with SBJ Bank and LINE NEXT for Account Linking Charge Verification

Key Points of This Article

• Issuer JPYC will support the technical aspects of issuance and redemption
• SBJ Bank and LINE NEXT are also considering the commercialization of remittance and payment
  Verification of bank account linking charge

JPYC Co., Ltd., which issues the Japanese yen-denominated electronic payment stablecoin "JPYC," announced on the 21st that it has signed a memorandum of understanding regarding business collaboration with SBJ Bank and U.S.-based LINE NEXT Inc. The signing date was the 20th. The three companies will work on a proof of concept (PoC) for the "account linking charge function" that connects bank accounts with digital wallets.

The roles are divided among the three companies. SBJ Bank will provide bank accounts and banking infrastructure, LINE NEXT will bring in digital wallets, including the stablecoin wallet "Unifi," and blockchain technology. JPYC will provide technical support for issuance and redemption functions as the issuer. The flow from account linking to the issuance of stablecoins and reflection in wallets will be designed from both technical and operational perspectives to verify whether it can function as a service.

SBJ Bank and LINE NEXT Also Eye Commercialization

The memorandum includes a strategic business partnership between SBJ Bank and LINE NEXT, separate from the PoC of the three companies. They will explore collaborative areas that combine LINE NEXT's Web3 services, such as Unifi, with SBJ Bank's banking services, and discuss joint promotions and joint ventures.

SBJ Bank is a domestic bank established in 2009 and belongs to South Korea's Shinhan Financial Group. After the PoC, the bank plans to consider the commercialization of new financial services, including remittance and payment, in collaboration with LINE NEXT.

Expansion of Collaboration from January's MOU

JPYC and LINE NEXT signed a basic agreement (MOU) on January 20 to create an environment where JPYC can be used on the LINE app. LINE NEXT officially launched Unifi in March, and JPYC was officially adopted in that wallet. JPYC announced in July during the WebX 2026 exhibition that Unifi had become the partner with the largest share of JPYC's circulation.

This time, with the addition of a bank, they will delve into the verification of the entry part that delivers yen-denominated stablecoins from bank accounts to wallets. JPYC received registration as a fund transfer service provider in August 2025 and began issuance in October of the same year. It is currently issued on four chains: Avalanche, Ethereum, Polygon, and Kava.

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