SBI Holdings, a Tokyo-listed financial conglomerate, has signed a memorandum of understanding with blockchain company Startale Group to create a fully regulated yen-denominated stablecoin targeting global settlement.
Combining SBI Holdings’ Market Standing With Startale’s Experience
According to a Monday press release, the two firms will leverage SBI’s established status as a major financial institution in Japan and Startale’s Web3 experience, including its role in co-creating the Sony-backed Soneium network.
Under the agreement, Shinsei Trust & Banking, a wholly-owned subsidiary of SBI Shinsei Bank, will handle the issuance and redemption of the stablecoin. Meanwhile, the licensed Crypto Asset Exchange Service Provider, SBI VC Trade, will manage circulation of the asset.
“The transition to a ‘token economy’ is now an irreversible societal trend,” said Yoshitaka Kitao, Chairman and President of SBI Holdings. “By circulating it both domestically and globally, we aim to dramatically accelerate the movement toward providing digital financial services that are fully integrated with traditional finance.”
The yet-unnamed stablecoin is expected to launch in the second quarter of 2026, pending final regulatory approvals and the completion of compliance frameworks.
Startale itself has recently introduced Startale USD (USDSC), an institutional-grade dollar stablecoin for payments, rewards, and liquidity across Soneium. The new yen coin and USDSC are envisioned to create a “complementary currency stack” for Startale and SBI’s forthcoming 24/7 tokenized stock exchange.
Japanese Megabanks Pile Into Stablecoins
The latest SBI project comes as Japan progresses toward formalizing stablecoin issuance under a clear regulatory framework. Japan’s Financial Services Agency (FSA), the watchdog responsible for banking, securities and exchange, and insurance sectors, recently introduced its Payment Innovation Project, a regulatory sandbox for blockchain-based payments.
The program’s first official pilot supports a joint yen stablecoin issued by three of the country’s largest banks: Mitsubishi UFJ Financial Group, Bank Sumitomo Mitsui Banking Corp., and Mizuho Bank.
SBI has become a key player in Japan’s growing stablecoin market. Earlier in March, Circle joined forces with SBI Holdings to introduce the first regulated U.S. dollar-pegged stablecoin in Japan. Then, in August, Ripple announced that it was launching its RLUSD stablecoin in Japan in early 2026 via a partnership with SBI VC Trade.
Source: https://zycrypto.com/japans-sbi-holdings-to-launch-regulated-yen-backed-stablecoin-in-2026-amid-growing-adoption/
