BlackRock Signs Memorandum of Understanding with SBI and Startale to Explore Tokenized Fund and Yen Stablecoin Connection
Prefer us on GoogleBlackRock Financial Management and BlackRock Japan, subsidiaries of BlackRock, have signed a memorandum of understanding with SBI Holdings and Startale Group to explore the connection between tokenized money market funds and SBI's yen stablecoin, JPYSC. The three parties will assess the feasibility of the connection in three areas: technological infrastructure, business and distribution, and regulatory and market development, with plans to open cooperation to financial institutions and enterprises in Japan and internationally. SBI launched JPYSC in June this year in partnership with Startale, marking Japan's first trust bank-supported yen stablecoin, managed and issued by SBI Shinsei Trust Bank, with distribution handled by SBI VC Trade.
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