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Tokyo, December 16, 2025.
SBI Holdings, Inc. and Startale Group Pte. Ltd. announced a Memorandum of Understanding (MOU) to jointly develop and launch a fully regulated Japanese yen-denominated stablecoin targeted for global institutional settlements and cross-border payments.
Key Takeaways
- SBI Holdings and Startale Group MOU signed December 16, 2025, for regulated JPY-pegged stablecoin.
- Targeted Q2 2026 launch for global institutional settlements and cross-border payments.
- Startale handles tech; SBI manages compliance and distribution via Shinsei Trust and SBI VC Trade.
- Programmable yen stablecoin exempt from ¥1M domestic limits, supports tokenized assets and on-chain finance.
- Positions Japan in regulated stablecoin market alongside bank pilots and JPYC.
Partnership Details
The MOU, signed on December 16, 2025, outlines roles:
- Startale Group leads technology development, including smart contracts, APIs, security systems, compliance tools, and ecosystem expansion.
- SBI Holdings oversees regulatory compliance, issuance, redemption, and institutional distribution.
Issuance and redemption will be handled by Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank.
Circulation will occur via SBI VC Trade, a licensed crypto asset exchange.
The stablecoin will be structured as a trust-based Type 3 Electronic Payment Instrument under Japan's Payment Services Act, exempt from the ¥1 million limit on domestic remittances and balances.
Targeted Launch and Compliance
Launch is scheduled for Q2 2026 (April-June), pending final regulatory approvals and system testing. The project complies with Japan's stablecoin framework, aligning with the Financial Services Agency's (FSA) Payment Innovation Project sandbox.
Strategic Objectives and Use Cases
The stablecoin aims to support:
- Cross-border settlements
- Tokenized real-world assets (RWAs) and equities
- On-chain enterprise payments
- Programmable transactions, including AI agent payments and tokenized asset distributions
It complements Startale's existing USDSC dollar-pegged stablecoin, enabling paired yen-dollar liquidity for FX and settlement flows.
SBI Holdings views it as core infrastructure for integrating traditional finance with blockchain in a token economy.
Executive Statements
Yoshitaka Kitao, Representative Director, Chairman & President of SBI Holdings: "The transition to a token economy is an irreversible societal trend. This yen-denominated stablecoin will accelerate digital financial services fully integrated with traditional finance."
Sota Watanabe, CEO of Startale Group: "This stablecoin will enable payments between AI agents and distributions for tokenized assets, building world-leading use cases for Japan and the global market."
Conclusion
Monitor regulatory progress and institutional adoption timelines; this initiative strengthens Japan's regulated stablecoin infrastructure for tokenized finance by mid-2026.
Read Next:
- Best Stablecoins for Cross-Border Payments in 2025
- The Role of Stablecoins in Monetary Policy Transmission
- The Neobank Transition Report
FAQs:
1. What is the SBI-Startale yen stablecoin project?
A regulated JPY-pegged stablecoin developed under MOU for institutional global settlements.
2. When is the yen stablecoin launch planned?
Q2 2026, subject to regulatory approvals.
3. Who handles issuance and circulation?
Shinsei Trust & Banking for issuance/redemption; SBI VC Trade for circulation.
4. What regulatory framework applies?
Japan's Payment Services Act as Type 3 Electronic Payment Instrument, compliant with FSA guidelines.
5. What are the main use cases?
Cross-border payments, tokenized RWAs, enterprise settlements, AI agent transactions.
6. How does it differ from existing yen stablecoins?
Programmable design for on-chain integration, complements bank-led pilots.
Disclaimer:
This content is provided for informational and educational purposes only and does not constitute financial, investment, legal, or tax advice; no material herein should be interpreted as a recommendation, endorsement, or solicitation to buy or sell any financial instrument, and readers should conduct their own independent research or consult a qualified professional.
