Japan
ABMedia
BlackRock and SBI Sign MOU to Study Linking Tokenized Money Market Fund with Yen Stablecoin
- The three parties will combine BlackRock's global tokenized MMF experience and network, SBI Group's (including SBI Global Asset Management) client base and compliance expertise, and Startale's on-chain financial technology to study the MMF-JPYSC link across technology/infrastructure, business/sales, and regulation/market-building.
- JPYSC is a trust-type yen stablecoin issued by SBI Group, launched in June 2026 by SBI and Startale, with SBI Shinsei Trust Bank handling issuance and crypto exchange SBI VC Trade handling distribution.
- SBI Holdings Chairman and CEO Yoshitaka Kitao said Japan must prepare early to lead rather than lag in on-chain finance; Startale CEO Sota Watanabe cited US SEC-led tokenization reforms as pressure for Japan to accelerate; BlackRock Japan President Sachiko Hashimoto said BlackRock will apply its global experience to the Japan study, noting BlackRock's tokenized fund BUIDL, launched in 2024, currently manages about $2.17 billion in US Treasuries, overnight repos, and cash.