Japan’s Onchain Finance Push Gains Momentum With BlackRock, SBI and Startale Stablecoin Initiative
Photo: Blockchain Reporter
Japan’s efforts to build a functioning market for blockchain-based financial products are taking another step forward, with BlackRock, SBI Holdings and Startale Group agreeing to explore how yen-denominated stablecoins could connect with tokenized investment funds. Under a memorandum of understanding announced on October 27, the companies will investigate connecting JPYSC, a trust-type stablecoin denominated in Japanese yen, with tokenized money market funds. The initiative aims to address infrastructure, distribution and regulatory challenges associated with bringing conventional financial assets onto blockchain networks.
Source: Blockchain Reporter
