SBI Holdings (TYO:8473) and Startale have partnered to develop a fully regulated yen stablecoin, targeting its launch as a global settlement currency by the first quarter of 2026.
This initiative combines SBI's financial conglomerate strength with Startale's expertise in blockchain infrastructure, according to its statement on Tuesday.
The stablecoin will be issued and redeemed by Shinsei Trust & Banking, an SBI Shinsei Bank subsidiary, and circulated through the licensed exchange SBI VC Trade.
The project arrives as Japan's financial regulator, the FSA, launches a regulatory sandbox for blockchain payments.
While the nation's three megabanks are already piloting a separate yen stablecoin, the SBI-Startale venture aims to provide a complementary, programmable digital yen tailored for institutional global settlements.
This yen stablecoin will work alongside Startale's recently launched USD stablecoin (USDSC), with the pair forming a complementary stack.
Together, these assets are intended to bridge the gap between regulated stablecoins and the broader onchain economy, supporting flows of tokenized assets.
The collaboration builds upon the groups' prior work in tokenized stocks and digital asset exchange development.
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