startale

Sota Watanabe, CEO of Japanese Web3 infrastructure company Startale, stated that the world's first bank-backed yen stablecoin, JPYSC, will be launched within a few months. The goal is to use the yen as the lowest-cost financing currency to invest in high-growth assets on-chain, such as U.S. stocks.In March of this year, Startale Labs announced the completion of a $63 million Series A funding round, led by Sony Innovation Fund, with participation from Asian industry and financial giants such as Samsung Next, UOB Venture Management, and SBI Holdings.

Japanese Web3 infrastructure company Startale announced that SBI has invested $50 million in it, while completing a $63 million Series A funding round. The two companies are focusing on tokenized securities, stablecoins, and consumer chain products in Japan.Startale Group CEO Sota Watanabe stated, "Through deep cooperation with SBI, we will accelerate the adoption of tokenized stocks centered around the Japanese stock market and yen stablecoins this year."

Japan's financial group SBI Holdings and Startale Group announced the launch of the yen stablecoin JPYSC, aimed at institutional and cross-border payment scenarios.The stablecoin is issued and managed in trust by SBI Shinsei Trust Bank, complying with Japan's digital asset regulatory framework. SBI's trading platform, SBI VC Trade, will serve as the main distribution channel, while Startale is responsible for technical development. Both parties stated that the trust bank support model helps enhance governance and compliance assurance, promotes the use of the yen in the digital financial system, and provides a compliant alternative to the currently dollar-dominated stablecoin market. The project is expected to go live in the second quarter of this year after obtaining regulatory approval. In recent years, Japan has been actively advancing the construction of a stablecoin system. The revision of the Payment Services Act in 2022 defined fiat-backed stablecoins as "electronic payment instruments"; last October, Japan approved the issuance of the yen stablecoin JPYC. The three major banks MUFG, SMBC, and Mizuho have also launched pilot projects for stablecoins and tokenized deposits.

According to The Block, Sony's innovation fund has invested an additional $13 million in Soneium blockchain co-developer Startale Group as the first funding for its Series A round.Previously, Startale received $3.5 million in seed funding from Sony in 2023 and secured $3.5 million in seed extension funding from DCM and Samsung Next in 2024, bringing the total public financing amount to $20 million. Startale is headquartered in Singapore and has co-developed the Ethereum Layer 2 network Soneium and the ecosystem entry application Startale App with Sony's Blockchain Solutions Lab.

According to market news, Japanese blockchain infrastructure company Startale Group and Japanese financial group SBI Holdings plan to launch a fully regulated, yen-pegged stablecoin by the second quarter of 2026 to support global settlements.The two parties will collaborate on the development of this digital currency under a new agreement. Shinsei Trust & Banking will be responsible for the issuance and redemption management of the stablecoin, while SBI VC Trade, as a licensed crypto exchange, will handle its circulation. This yen stablecoin will be issued by a trust bank and is intended for global settlements and institutional use. Startale will be responsible for technology development, while SBI will focus on compliance, regulation, and issuance promotion.

According to CoinDesk, Sony's blockchain partner Startale Group has launched the dollar stablecoin Startale USD (USDSC) in collaboration with the stablecoin issuance platform M0 on Sony's Web3 ecosystem Soneium.The stablecoin is designed to serve as the default digital dollar for payments, rewards, and other functions within the Soneium ecosystem. Soneium is an Ethereum Layer 2 network launched last year by Sony Group and Startale's joint venture Sony Block Solutions Labs.

Startale Group and Sony Blockchain Solutions Lab jointly announced the launch of the Startale App, an integrated super app designed as an entry point into Sony's Ethereum Layer 2 network, Soneium, and its ecosystem. This app will serve as the access portal for future token generation activities, airdrops, and Soneium ecosystem rewards.According to the official announcement, multiple projects on the network plan to distribute airdrops, rewards, and exclusive experiences through this app. The announcement states that the Startale app utilizes account abstraction technology, eliminating the need for mnemonic phrases, enabling gasless transactions, and simplifying wallet management to enhance the activity within the Soneium ecosystem. The app supports mini-program features, allowing developers to build applications directly on the network without the need for a standalone website. Currently, the app is in a closed testing phase, and the official launch date has not yet been announced.

ChainCatcher news, according to The Block, Japan's financial group SBI Holdings announced a strategic partnership with the crypto infrastructure company Startale Group to jointly launch an on-chain tokenized stock trading platform.The platform will combine SBI's financial ecosystem with Startale's blockchain infrastructure, supporting 24/7 trading of tokenized stocks, providing faster cross-border settlement and fractional ownership features. The platform will also integrate decentralized finance protocols and be equipped with features such as account abstraction, institutional custody, and real-time compliance monitoring.

ChainCatcher news, Startale's CEO Sota Watanabe revealed on X: The ruling party in Japan has proposed establishing a new cryptocurrency regulatory framework under the Financial Instruments and Exchange Act. If this proposal is passed this year, cryptocurrencies may not be regulated as securities but rather be considered a new asset class, potentially leading to the launch of crypto ETFs and a reduction in the tax rate from a maximum of 55% to 20%.The government has been engaging in dialogue with Japanese industry leaders, and this move is seen as a positive outcome of collaboration between regulators and the industry, which is expected to attract more Japanese investors into the on-chain market.

ChainCatcher news, Startale CEO Sota Watanabe posted on X: "About 10 years ago, when I entered the cryptocurrency industry, I was excited about how technology could empower people and improve society. Now, 10 years later, the main use case of this industry is Meme coins. I do not deny this situation, but this issue must be addressed."

ChainCatcher news, Web3 infrastructure Startale Group announced the establishment of a new investment department, Startale Ventures, which will primarily invest in the Sony L2 network Soneium and Astar ecosystem projects.In addition to providing funding, it will also offer comprehensive support including marketing, business development, and strategic planning, and will be able to leverage cloud infrastructure such as RPC nodes and account abstraction provided by Startale Cloud Services to enhance Web3 development efficiency.

ChainCatcher news, Startale CEO Sota Watanabe posted on X: "Since the announcement of the transition from Astar zkEVM to Soneium, one of the most common questions is about the future direction of Astar and the role of the ASTR token. This transition represents the first phase of Astar Evolution. The second phase has already been determined by the Astar Foundation, and we are entering the execution phase."Currently, the team is considering several potential development directions and hopes to discuss these with the community, including ASTR as an ecosystem asset; ASTR as a DeFi asset; ASTR as currency in consumer applications with AA; and ASTR for enhancing the security of Soneium infrastructure, etc.

ChainCatcher news, Sota, the CEO of Startale Labs, a Web3 infrastructure under Astar Network, tweeted that Masaaki Taira, the former chairman of the Web3 project for the Japanese government, may become the digital minister of the Japanese government next week.Sota said: "The future of Web3 in Japan is very bright. Masaaki Taira knows a lot about Web3 and has been supporting this industry. I am very happy."

ChainCatcher news, Startale Labs CEO Sota Watanabe posted on X: "Masaaki Taira, a member of Japan's ruling Liberal Democratic Party and former head of a Web3 project team, may become Japan's digital minister next week.This means a bright future for Web3 in Japan. Taira is very knowledgeable about Web3 and has been supportive of the industry."

ChainCatcher news, Startale Labs CEO Sota Watanabe posted on the X platform: "The Sony L2 network Soneium Spark incubation program has received over 300 applications in just two days, which is a great response and makes me very happy. However, if this pace continues until the end of the month, there may be 3,000 applications. In that case, Startale and Sony, who are responsible for the review, might not be able to handle it."

ChainCatcher news, Startale Labs CEO Sota Watanabe stated on the X platform that after the application for the incubation program of Sony's blockchain Soneium Spark testnet opened, more than 150 applications were received within 24 hours. Applications will close before September 30.

ChainCatcher news, Samsung Next, the investment company under Samsung Electronics, officially announced today that it has invested in the Sony Layer2 network Soneium development team Startale Labs.

ChainCatcher news, Startale Labs CEO Sota Watanabe revealed on social media that Sony's blockchain project Soneium is working to create a platform for universal creation. Watanabe emphasized that Soneium's vision is to enable everyone to become a creator, regardless of geographical and professional limitations.Watanabe stated that Soneium is developing multiple creative IP use cases, aiming to leverage community power to bring the project into the mainstream market. The platform will provide opportunities for individuals and communities to collaborate in creation, with emotional resonance at its core, inspiring user creativity.

ChainCatcher news, Startale Labs CEO and Astar Network founder Sota Watanabe posted on social media that Astar Evolution Phase 1 will be launched within 2 months.