BlackRock, SBI and Startale Partner to Explore Linking Tokenized Funds With Yen Stablecoin
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BlackRock, SBI Holdings and blockchain infrastructure company Startale Group have signed a memorandum of understanding (MOU) to explore connecting tokenized money market funds with JPYSC, a yen-denominated stablecoin, as Japan looks to expand the use of blockchain technology in traditional financial markets. Announced on October 27, the agreement brings together BlackRock’s global asset management expertise, SBI’s financial services network and Startale’s blockchain infrastructure capabilities to examine how tokenized investment products and stablecoins could operate within a connected onchain financial ecosystem. The initiative comes as financial institutions increasingly explore tokenization, a process that represents traditional financial assets on blockchain networks.
Source: Live Bitcoin News
