SBI, Startale to Launch Regulated Yen Stablecoin for Global Settlement

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Startale Group and SBI Holdings have officially announced a partnership to develop a yen-denominated stablecoin for global settlement and institutional use. This collaboration aims to tap into the $300 billion stablecoin market, which is currently dominated by dollar-pegged tokens.

The project will leverage Startale’s blockchain technology, specifically the Soneium network, and combine it with the extensive reach of SBI as one of Japan’s largest financial groups. Shinsei Trust & Banking will be responsible for the issuance and redemption of the stablecoin, while SBI VC Trade will manage its circulation as a licensed crypto asset exchange. Startale will lead the technical development, focusing on smart contracts and security, while SBI will oversee compliance and institutional distribution.

Stablecoins are digital assets that are pegged to traditional assets such as fiat currencies or gold. They play a crucial role in the cryptocurrency ecosystem by providing a stable means of transferring value across borders.

Yoshitaka Kitao, Chairman and President of SBI Holdings, emphasized the growing importance of tokenized assets and token-based settlement, describing them as an “irreversible societal trend.” The yen stablecoin is envisioned to serve as core infrastructure for digital financial services that seamlessly integrate with traditional finance.

This initiative falls under Japan’s new stablecoin regulations and the Financial Services Agency’s Payment Innovation Project. The project is part of a larger effort to create a programmable digital yen for cross-border settlement and tokenized Real World Assets (RWAs).

The new yen stablecoin will complement Startale’s existing stablecoin, USDSC, which is pegged to the US dollar. USDSC is currently used within the Soneium network and the Startale App to facilitate dollar liquidity. The yen stablecoin will provide a regulated yen counterpart for foreign exchange transactions, settlements, and tokenized asset transfers.

The launch of the yen stablecoin is tentatively scheduled for the second quarter of 2026, pending final regulatory approvals.

In conclusion, the collaboration between Startale Group and SBI Holdings represents a significant step towards the development of a yen-denominated stablecoin for global use. By combining their respective expertise and resources, the two companies aim to address the growing demand for stable digital assets in the financial industry.