Startale Group, a blockchain company collaborating with tech giant Sony on its web3 initiative Soneium, has launched a stablecoin tied to the U.S. dollar.
Named Startale USD (USDSC), this token aims to function as the primary digital currency for transactions, rewards, and various operations within the Soneium ecosystem, as highlighted in a press release on Wednesday. Soneium is an Ethereum layer-2 network, introduced last year by Sony Block Solutions Labs, a partnership between Sony Group and Startale.
This initiative coincides with Japan’s deeper engagement in the digital currency sphere, as stablecoins—valued at around $300 billion—are increasingly regarded as a viable payment option. Regulatory bodies have already approved pilot schemes for yen-denominated stablecoins from leading financial institutions such as MUFG, SMBC, and Mizuho. Furthermore, Sony Bank, which separated from the technology firm earlier this year, is reportedly set to release its own stablecoin in the upcoming year.
USDSC is developed using infrastructure from M0, a startup focused on creating modular platforms for programmable stablecoins. M0 has previously collaborated with MetaMask and Stripe on additional stablecoin ventures.
In conjunction with the new token, Startale is unveiling STAR Points, a rewards program that incentivizes users for minting or retaining USDSC, accomplishing in-app activities, or engaging with decentralized applications through the Startale App, a central hub for the Soneium ecosystem.
According to Startale CEO Sota Watanabe, the objective is to ensure that Web3 tools feel as intuitive as mainstream applications. “It facilitates payments, rewards, and daily transactions,” he stated in an announcement.
The launch of this stablecoin follows Startale’s previous collaboration with SBI Holdings to create a 24/7 digital asset exchange for tokenized assets, aiming for a slice of the nearly $19 trillion tokenization market anticipated by 2033.
