BlackRock joins SBI, Startale to link tokenized funds with yen stablecoin

BlackRock has signed an agreement with SBI Holdings and Startale Group to explore connecting tokenized money market funds with JPYSC, a yen-denominated stablecoin, as the companies examine infrastructure for blockchain-based financial services in Japan. Summary BlackRock, SBI Holdings and Startale signed an MOU covering tokenized money market funds and JPYSC. The companies will study technical infrastructure, distribution opportunities and regulatory requirements. Japan’s existing stablecoin framework provides a legal basis for developing the proposed services. The agreement does not establish a live fund integration or commercial launch date. According to an October 27 announcement from SBI Holdings and Startale, BlackRock Financial Management and BlackRock Japan signed a memorandum of understanding to examine the proposed connection. The agreement covers technical development, business opportunities and regulatory requirements, but the companies have not announced a commercial launch. Meanwhile, the proposed arrangement would bring tokenized investment products and a yen-based payment instrument into the same financial infrastructure. The announcement does not identify a specific...