SBI and Startale plan regulated yen stablecoin by 2026 in Japan
Japanese financial group SBI Holdings and Web3 infrastructure firm Startale Group have signed a memorandum of understanding (MoU) to develop a fully regulated stablecoin denominated in Japanese yen, aimed at tokenized asset markets and cross-border settlement, the companies said in a press release.
Under the MoU, issuance and redemption will be managed by Shinsei Trust & Banking, a wholly owned subsidiary of SBI Shinsei Bank, while licensed crypto asset exchange SBI VC Trade will support the stablecoin’s circulation.
Yoshitaka Kitao, representative director, chairman and president of SBI Holdings, said the initiative is intended to serve as a foundation for Japan’s transition to a token-based economy, adding that domestic and international circulation could accelerate the integration of digital financial services with traditional finance.
The stablecoin is targeted for launch in the second quarter of 2026, subject to regulatory approval and the completion of compliance frameworks.
Japan accelerates stablecoin efforts
The initiative comes as Japan moves to formalize stablecoin issuance under a clearer regulatory framework, positioning trust banks and licensed entities at the center of on-chain settlement infrastructure. The Financial Services Agency (FSA) recently launched the Payment Innovation Project, a regulatory sandbox for blockchain-based payments.
The program’s first official pilot supported yen-denominated stablecoins issued by three major banks: Mitsubishi UFJ Financial Group (MUFG), Sumitomo Mitsui Banking Corp. (SMBC) and Mizuho Bank.
Against this backdrop, the SBI and Startale initiative aims to complement bank-led pilots with a programmable, trust bank–issued digital yen intended for cross-border settlement, tokenized equities and real-world asset flows.
SBI advances stablecoin integrations
SBI has emerged as a key participant in Japan’s stablecoin landscape, pursuing a multi-currency strategy that includes both dollar- and yen-denominated assets.
In March, SBI VC Trade integrated Circle’s USDC stablecoin into its exchange as Japan eased its stablecoin rules, making the platform among the first in the country to offer crypto trading in USDC.
On Aug. 21, Ripple said it plans to bring its RLUSD stablecoin to Japan in early 2026 through a partnership with SBI VC Trade, with an offering designed for enterprise use cases for institutions and retail users.
Stay informed, read the latest news right now!
Disclaimer
The content on TrustsCrypto.com is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency markets are highly volatile, always do your own research before making decisions.
Some content may be assisted by AI and reviewed by our editorial team, but accuracy is not guaranteed. TrustsCrypto.com is not responsible for any losses resulting from the use of information provided.
