SBI Holdings, Startale to Launch Regulated Yen Stablecoin
SBI Holdings and Startale Group have agreed to develop a regulated Japanese yen stablecoin aimed at providing an alternative to dollar-denominated digital currencies in global trade and settlement.
The two companies signed a memorandum of understanding to create the stablecoin under Japan's recently established regulatory framework, with a planned launch in the second quarter of 2026, according to an announcement on Monday.
Startale, which operates Japan's Astar Network and co-develops Soneium with Sony Block Solutions Labs, will lead technology development including smart contract architecture and security systems. SBI will manage regulatory compliance and institutional distribution channels.
The partnership builds on previous collaboration between the companies on tokenized equities and plans for a round-the-clock digital asset exchange. The two firms are positioning their dual-currency approach as creating an interoperable framework connecting regulated yen stablecoins with broader blockchain ecosystems.
Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank, will manage issuance and redemption operations. SBI VC Trade, which holds a Crypto Asset Exchange Service Provider license, will handle circulation of the digital currency.
Yoshitaka Kitao, chairman and president of SBI Holdings, described the shift toward a token economy as an irreversible trend and said the yen stablecoin would accelerate the integration of digital financial services with traditional finance. The project aims to offer a yen option in a stablecoin market that now exceeds $300 billion in circulation and processes trillions in annual transactions, predominantly in U.S. dollar assets.
The initiative follows Japan's Financial Services Agency establishing the Payment Innovation Project, a regulatory sandbox for blockchain payments. The FSA recently approved a pilot by Japan's three largest banks – Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho – as the sandbox's first test case.
Startale CEO Sota Watanabe said the yen stablecoin will serve beyond everyday payments, positioning it as infrastructure for AI agent transactions and tokenized asset distributions. He described the collaboration as an effort to make Japan central to blockchain adoption globally.
The stablecoin complements Startale's recently launched Startale USD, an institutional-grade dollar-pegged token designed as the default currency for the Soneium blockchain and Startale App. While Startale USD anchors dollar liquidity within applications, the regulated yen stablecoin targets institutional settlement, foreign exchange, and tokenized real-world asset flows.
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