BlackRock Signs MoU with SBI and Startale to Explore Linking Tokenized Funds with Yen Stablecoin

October 27: According to The Block, BlackRock Financial Management and BlackRock Japan, both part of BlackRock, have signed a memorandum of understanding with SBI Holdings and Startale Group to explore connecting tokenized money market funds with SBI's yen stablecoin JPYSC. The three parties will assess the feasibility of the connection across three areas: technical infrastructure, business and distribution, and regulatory and market development, and plan to open the collaboration to Japanese and international financial institutions and enterprises. In June this year, SBI and Startale launched JPYSC, Japan's first trust bank-backed yen stablecoin, managed and issued by SBI Shinsei Trust Bank, with SBI VC Trade responsible for distribution.