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Startale Group and SBI Holdings have signed a memorandum of understanding to develop a fully regulated, yen-denominated stablecoin for global settlement and institutional use, the companies said in a press release Monday.
The project pairs Startale’s blockchain stack, including its work on the Soneium network, with SBI’s reach as one of Japan’s largest financial groups, targeting a share of a $300 billion stablecoin market still dominated by dollar-pegged tokens.
Shinsei Trust & Banking will handle issuance and redemption, with SBI VC Trade managing circulation as a licensed crypto asset exchange. Startale leads tech development, including smart contracts and security, while SBI oversees compliance and institutional distribution.
Stablecoins are cryptocurrencies pegged to assets like fiat currencies or gold. They underpin much of the crypto economy, serving as payment rails and a tool for moving money across borders.
SBI Holdings Chairman and President Yoshitaka Kitao called tokenized assets and token-based settlement an
SBI, Startale to Launch Regulated Yen Stablecoin for Global Settlement
