BlackRock, SBI and Startale Explore Linking Tokenized Funds With JPYSC

BlackRock, SBI and Startale will study connections between tokenized money market funds and a yen stablecoin, without announcing a product launch. BlackRock, SBI Holdings and Startale have signed an agreement to explore connecting tokenized money market funds with JPYSC, a yen-denominated trust-type stablecoin, extending institutional efforts to build financial infrastructure around blockchain-based assets. SBI and Startale announced the memorandum of understanding on October 27. The BlackRock parties are BlackRock Financial Management and BlackRock Japan. Their initial work will examine technical infrastructure, distribution opportunities and the regulatory setting for a possible connection between funds and the stablecoin.