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Startale Group has entered into a memorandum of understanding with SBI Holdings to create a fully regulated, yen-backed stablecoin designed for global transactions and institutional use, according to a Monday press release.
This collaboration combines Startale’s blockchain expertise, including its Soneium network, with SBI’s extensive presence as one of Japan’s major financial institutions, aiming to capture part of a $300 billion stablecoin market that is primarily led by dollar-pegged tokens.
Issuance and redemption will be managed by Shinsei Trust & Banking, with SBI VC Trade overseeing circulation as a licensed crypto asset exchange. Startale will focus on technology development, including smart contracts and security measures, while SBI will ensure compliance and manage institutional distribution.
Stablecoins are cryptocurrencies tied to assets like fiat currencies or gold, serving as essential components of the crypto economy by facilitating payments and cross-border money transfers.
SBI Holdings Chairman and President Yoshitaka Kitao highlighted that tokenized assets and settlement through tokens represent an "irreversible societal trend,” noting that the yen stablecoin is intended to function as a foundational element for digital financial services alongside traditional finance.
This initiative is being developed under Japan’s new regulations for stablecoins and the FSA’s Payment Innovation Project, which is already supporting a collaborative yen stablecoin pilot conducted by Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho, proposed as a programmable digital yen for cross-border transactions and tokenized real-world assets.
The token will coexist with Startale USD (USDSC), the company’s institutional-grade dollar stablecoin for Soneium and the Startale App, where USDSC will anchor dollar liquidity and the newly introduced yen coin will provide a regulated yen component for foreign exchange, settlement, and flows of tokenized assets.
The target launch date is Q2 2026, pending final regulatory approvals.
Read more: Stablecoin Adoption Is ‘Exploding’ — Here’s Why Wall Street Is Going All-In
