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BlackRock partners with SBI and Startale to explore tokenized funds linked to yen stablecoin

BlackRock has signed a memorandum of understanding with SBI Holdings and Startale to explore linking tokenized money market funds with JPYSC, a Japanese yen-pegged stablecoin.

Digital 3D rendering of a gold cryptocurrency coin engraved with the Japanese yen symbol.
Image: @coinbureau

Asset manager BlackRock has signed a memorandum of understanding with SBI Holdings and Startale to explore connecting tokenized money market funds with JPYSC, a stablecoin pegged to the Japanese yen.[1][2][3][4]

The initiative aims to expand onchain finance within Japan by evaluating how tokenized funds can integrate with JPYSC, according to Cointelegraph. SBI's chairman stated that the shift toward onchain finance is becoming an unavoidable global trend.[1][2]

Key facts

  • BlackRock, SBI Holdings, and Startale signed a memorandum of understanding to explore connecting tokenized money market funds with JPYSC.
  • JPYSC is a stablecoin tied to the Japanese yen backed by SBI and Startale.
  • The initiative is intended to advance onchain finance in Japan.
  • SBI's chairman stated that the transition to onchain finance is becoming an unavoidable global trend.

Sources 路 4 sources

  1. CB

    Coin Bureau@coinbureauPost on X 路

    馃嚡馃嚨 JUST IN: BlackRock officially signs on to explore linking tokenized funds with a yen stablecoin. The $15.5 TRILLION asset manager is working with SBI and Startale, the companies behind JPYSC, a stablecoin tied to the Japanese yen. They want to see if tokenized money market funds can plug into JPYSC. SBI's chairman says the shift to onchain finance "is becoming an unavoidable global trend."

    Open source
  2. CO

    Cointelegraph@CointelegraphPost on X 路

    馃嚡馃嚨 BIG: BlackRock signs an MOU with SBI Holdings and Startale to explore linking tokenized money market funds with JPYSC, a yen-backed stablecoin, to push onchain finance in Japan. https://t.co/ObpdJxaNAS

    Open source
  3. CB

    Crypto BriefingArticle 路

    BlackRock signs MOU with SBI and Startale to explore linking tokenized MMFs with yen stablecoin JPYSC The collaboration could revolutionize financial transactions by integrating blockchain technology, enhancing efficiency and global market access. The post BlackRock signs MOU with SBI and Startale to explore linking tokenized MMFs with yen stablecoin JPYSC appeared first on Crypto Briefing .

    Open source
  4. TB

    The BlockArticle 路

    BlackRock joins SBI and Startale to link tokenized MMFs with Japanese yen stablecoins BlackRock, SBI Holdings, and Startale will explore connecting tokenized money market funds with SBI's Japanese yen-pegged stablecoin JPYSC.

    Open source