BlackRock signs MOU with SBI and Startale to explore linking tokenized MMFs with yen stablecoin JPYSC

BlackRock wants to see whether tokenized money market funds and a yen stablecoin can share the same plumbing. SBI Holdings and Startale Group have signed a memorandum of understanding with BlackRock Financial Management and BlackRock Japan to study connecting tokenized money market funds (MMFs) with JPYSC, SBI’s yen-denominated stablecoin. The partners said their exploration will cover three areas. Those are technology and infrastructure, business and distribution, and regulation and market development. On the technical side, the group plans to map out what it would take to support an integration. That includes the infrastructure needed to let tokenized MMFs interact with JPYSC. On the commercial side, the companies intend to look at possible business models and distribution channels. The idea is to lean on each firm’s existing networks and market access. For readers newer to the concept: a money market fund parks cash in short-term, low-risk instruments. A tokenized version represents fund shares as tokens on a blockchain, so they can move and settle more like digital assets. Pairing that with a stablecoin creates an obvious use case. A stablecoin can act as the cash leg, letting ...