SBI, Startale and BlackRock explore yen stablecoin link

SBI Holdings, Startale Group and BlackRock have agreed to explore connecting tokenized money market funds with JPYSC, a yen-denominated stablecoin, under a memorandum of understanding signed October 27. The agreement launches discussions, not a live financial service or confirmed commercial integration. The MOU was signed by SBI Holdings and its subsidiary Startale Group, along with BlackRock Financial Management and BlackRock Japan. The companies said they will examine the proposed connection across three areas: technology and infrastructure, business and distribution, and regulation and market development. The work will include assessing technical requirements, potential business models and distribution opportunities, as well as regulatory developments relevant to tokenized assets and stablecoins. The participants said the collaboration could involve additional financial institutions and businesses in Japan and internationally. The agreement does not name a BlackRock fund or blockchain network for the project, set a launch timetable, or establish that regulators have approved a combined service. No investment commitment, transaction volume or funding arrangement was...