- BlackRock, SBI Holdings, and Startale Group signed an MOU to explore linking tokenized money market funds with Japan’s yen stablecoin, JPYSC.
- The partnership will assess technical infrastructure, business and distribution models, and regulatory requirements for integrating tokenized funds with stablecoins.
- JPYSC launched on June 24, 2026, as Japan’s first trust-backed yen stablecoin, issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade.
BlackRock, SBI Holdings, and Startale Group are looking into a link between tokenized money market funds and Japan’s yen-backed stablecoin JPYSC. This is another move toward bringing finance together with blockchain technology.
Source: chainbits.com
The companies signed a memorandum of understanding in Tokyo on October 27, 2026. The agreement includes BlackRock Financial Management Inc., BlackRock Japan Co., Ltd., SBI Holdings, and Startale Group.
SBI Holdings, Startale Group and @BlackRock have signed an MOU to connect tokenized money market funds with JPYSC, Japan’s trust-type yen stablecoin.
Together we are laying the groundwork for onchain finance, from Japan to the world.
— Startale 💿 (@StartaleGroup) October 27, 2026
The partnership will look at how blockchain-based fund shares might work with a stablecoin that is always worth the same amount as the Japanese yen. The agreement is still in the early stages. There is no set date for a launch. There is no fund chosen. No blockchain network has been picked yet.
Three Areas Of Focus For The Tokenization Partnership
The joint announcement says that the companies will look at three areas. First, technology and infrastructure. Second business and distribution models. Third regulatory requirements.
The technical assessment will look at how MMFs and JPYSC might interact. The business review will look for distribution opportunities that use the company’s networks. The regulatory assessment will look at rules that govern financial assets and stablecoins.
JPYSC Brings Trust-based Yen Stablecoin Infrastructure
JPYSC was launched on June 24, 2026, as Japan’s first trust-backed yen stablecoin. SBI Shinsei Trust Bank issues the token, SBI VC Trade distributes it, and Startale leads its technical development.
The stablecoin falls under Japan’s Type III Electronic Payment Instrument framework. Its trust-based structure distinguishes it from fund-transfer-type stablecoins, which face a ¥1 million transaction and balance limit under Japan’s regulatory framework.
Connecting JPYSC with fund shares could open up fresh possibilities for blockchain-based financial transactions. The size of those opportunities will depend on the technical structure, regulatory treatment, and distribution arrangements.
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