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Startale Group and SBI Holdings have signed a memorandum of understanding to develop a fully regulated, yen-denominated stablecoin for global settlement and institutional use, the companies announced in a press release on Monday.
The project combines Startale’s blockchain stack, including its work on the Soneium network, with SBI’s reach as one of Japan’s largest financial groups, targeting a share of a $300 billion stablecoin market still dominated by dollar-pegged tokens.
Shinsei Trust & Banking will handle issuance and redemption, while SBI VC Trade will handle circulation as a licensed crypto asset exchange. Startale leads technology development, including smart contracts and security, while SBI oversees compliance and institutional distribution.
Stablecoins are cryptocurrencies linked to assets such as fiat currencies or gold. They support much of the crypto economy, serving as payment channels and a tool for moving money across borders.
SBI Holdings Chairman and Chairman Yoshitaka Kitao called tokenized assets and token-based settlements an “irreversible societal trend” and said in the statement that the yen stablecoin is intended to serve as the backbone infrastructure for digital financial services integrated with traditional finance.
The initiative is part of Japan’s new stablecoin rules and the FSA’s Payment Innovation Project, which is already supporting a joint yen stablecoin pilot by Mitsubishi UFJ, Sumitomo Mitsui and Mizuho, and is being touted as a programmable digital yen for cross-border settlement and tokenized RWAs.
The token will be placed alongside Startale USD (USDSC), the company’s institutional-grade dollar stablecoin for Soneium and the Startale app, with USDSC anchoring dollar liquidity and the new yen coin providing the regulated leg of the yen for FX, settlement and tokenized asset flows.
Launch is planned for the second quarter of 2026, pending final regulatory approvals.
Learn more: Stablecoin Adoption “Explodes” – Here’s Why Wall Street Is Going All-In
