BlackRock partners with SBI and Startale to explore the interoperability of tokenized funds and yen stablecoins

According to The Block, BlackRock Financial Management, BlackRock Japan, and Japan's financial group SBI Holdings, along with Startale Group, have signed a memorandum of understanding to explore connecting tokenized money market funds with the yen stablecoin JPYSC, and to study the related technological infrastructure, business models, distribution channels, and regulatory requirements.

The four companies stated that the collaboration aims to promote interoperability between tokenized assets and stablecoins, and to open up cooperation opportunities for financial institutions and businesses in Japan and internationally. The collaboration is still in the exploratory stage, and a specific implementation timeline has not yet been announced.

BlackRock launched the tokenized fund BUIDL in 2024, managing approximately $2.17 billion in assets at the time of the report. SBI Holdings will launch JPYSC with Startale in June 2026, issued by SBI Shinsei Trust Bank, with SBI VC Trade responsible for distribution.