SBI, Startale to launch regulated yen stablecoin for global settlement

Core Insights - Startale Group and SBI Holdings have signed a memorandum of understanding to develop a yen-denominated stablecoin aimed at global settlement and institutional use, targeting a $300 billion stablecoin market [1][2] - The project combines Startale's blockchain technology with SBI's extensive financial reach, with Shinsei Trust & Banking managing issuance and redemption, and SBI VC Trade overseeing circulation as a licensed crypto asset exchange [2][5] - The yen stablecoin is positioned as core infrastructure for digital financial services, integrating traditional finance with tokenized assets, as stated by SBI Holdings Chairman Yoshitaka Kitao [3][4] Group 1 - The initiative aligns with Japan's new stablecoin regulations and the FSA's Payment Innovation Project, which supports a joint yen stablecoin pilot by major banks [4] - The new stablecoin will complement Startale's existing USDSC, providing a regulated yen leg for foreign exchange, settlement, and tokenized asset flows, with a launch targeted for Q2 2026 pending regulatory approvals [5]