SBI Bullish $2.17B Powerful Breakthrough With BlackRock

SBI and BlackRock are working on new on-chain setups that could usher in a new way to move institutional cash in Japan with a link between money market fund tokens and a regulated yen stablecoin. On October 27, SBI Holdings and its subsidiary Startale Group entered into an MOU with BlackRock Financial Management and BlackRock Japan to look into connecting tokenized money market funds with JPYSC, SBI’s yen stablecoin. The MOU is exploratory without a live product but brings together Japan’s increasingly powerful consortium, the world’s largest asset manager with $12.5 trillion under management, and the team behind Astar and…