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Bank & market adoption

SBI and Startale sign MOU with BlackRock on tokenized funds

APACSource: Startale Group

AI-generated image: Crystal hourglass turning stacked glass fund-share tiles into translucent yen coins on a black lacquer trayAI-generated image
AI-generated image
  • SBI Holdings and Startale Group announced on 27 October 2026 that they have signed a memorandum of understanding with BlackRock Financial Management and BlackRock Japan to explore a digital asset ecosystem connecting tokenized money market funds with JPYSC, which the release describes as a yen-denominated trust-type stablecoin.
  • The companies will examine three areas: technology and infrastructure, business and distribution, and regulation and market development, and say the collaboration is intended to be open to other financial institutions and businesses in Japan and internationally.

Why it matters

Pairing a tokenized money market fund with a yen stablecoin as the cash leg is the kind of on-chain liquidity and settlement link that Japanese banks and trust banks may be asked to support or compete with, although this MOU is exploratory and names no product, launch date or chain.

Read the original: Startale Group ↗

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More detail

Who is affected

SBI Holdings, Startale Group, BlackRock Financial Management and BlackRock Japan (MOU parties); the release says the collaboration is intended to be open to financial institutions and businesses in Japan and internationally.

Key dates

  • MOU announced (Tokyo)

What remains uncertain

  • The release does not name a specific tokenized fund, blockchain network, timeline or launch date; it describes the MOU as exploring the potential for connecting tokenized MMFs and JPYSC.

Adoption status

  • AnnouncedSBI HoldingsMOU with Startale and BlackRock to explore connecting tokenized MMFs with JPYSC (yen stablecoin)

Key facts

Event
Partnership / MOU
Jurisdiction
APAC
Source
Startale Group (joint release with SBI Holdings)
Source tier
Tier 2 · Bank / FMI
Product
Tokenized funds, Stablecoin issuance

Institutions

SBI Holdings

How we verified this

The source says

“Against this backdrop, SBI Holdings and Startale have entered into the MOU with BlackRock to explore the potential for connecting tokenized MMFs with JPYSC, with the aim of contributing to the development of onchain finance in Japan and globally.”

“Technology and infrastructure: Exploring the technical requirements and infrastructure needed to support connectivity between tokenized MMFs and JPYSC.”

Scope of the MOU (1 of 3 areas)

“With this in mind, SBI Group issued JPYSC, Japan’s first trust-type yen-denominated stablecoin, while group companies, including SBI Global Asset Management, have been developing a range of new onchain products and services.”

Yoshitaka Kitao, SBI Holdings (the “first” claim is SBI’s own)

Verbatim from Startale Group (joint release with SBI Holdings), matched word for word against the live page on 31 October 2026.

Evidence

Confidence
Medium The institution’s own statement; quote string-matched. Proves what the institution says, not independent confirmation.
Quote verified
2026-10-31 20:02 UTC
Archived snapshot
SHA-256 1f1e0e494b4c3c20… · fetched 2026-10-27 · Wayback Machine copy ↗
Change log (1)
  1. 2026-10-27 Published

Full evidence record · How we label confidence

AI-assisted: the summary and analysis were drafted with AI from the primary source and checked by the editors. AI-drafted from the primary source (joint release published on Startale’s newsroom; SBI Holdings’ own Japanese release is JS-rendered); quotes string-matched against the live source page.

Methodology · How we classify sources · Corrections · Report an error

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