SBI Holdings, a leading Japanese financial group, has joined forces with Startale Group, a Web3-focused blockchain company, for a new stablecoin project. The two companies plan to launch a Japanese yen (JPY)-based stablecoin in the second quarter of 2026. The project is positioned as a fully regulated digital asset with a focus on institutional adoption, usable both locally and globally. SBI Holdings, listed on the Tokyo Stock Exchange, brings its strong financial infrastructure and regulatory experience in Japan to the project, while Startale Group stands out with its technical expertise in the Web3 field. Startale is known for its involvement in the development of the Sony-backed Soneium network. This collaboration is considered a significant step towards a deeper integration of traditional finance and blockchain technology. SBI Holdings Chairman and CEO Yoshitaka Kitao stated that "the transition to a token economy is now an irreversible societal trend." According to Kitao, the launch of the new stablecoin, both in Japan and globally, will significantly accelerate the spread of digital financial services fully compatible with traditional finance. The issuance and redemption processes of the yen-based stablecoin, whose name has not yet been revealed, will be handled by Shinsei Trust & Banking, operating under SBI Shinsei Bank. The circulation of the token will be provided through SBI VC Trade, a licensed crypto asset service provider in Japan. This structure demonstrates that the project is firmly grounded in terms of regulatory compliance. On the Startale side, the project is being considered alongside the company's recently launched dollar-based stablecoin, Startale USD (USDSC). USDSC was designed for use on the Soneium network for payments, reward systems, and liquidity solutions. The goal is for the new yen stablecoin and USDSC to form a "complementary monetary infrastructure" in the 24/7 open tokenized stock exchange planned by Startale and SBI. Startale CEO Sota Watanabe states that the yen-based stablecoin will not be limited to daily payments. According to Watanabe, this token will play a central role in a fully on-chain financial world. There is significant potential, particularly in areas such as enabling payments between AI agents and automating the distribution processes of tokenized assets.
SBI in close relationship with Ripple
This is not SBI Holdings' first venture into the stablecoin space. The company previously announced that it would launch the Ripple USD (RLUSD) stablecoin in Japan in 2026 in collaboration with Ripple. The new project is seen as a continuation of this strategy.
On the other hand, the initiative is also part of broader yen-based stablecoin efforts in Japan. The Japan Financial Services Agency (FSA) recently approved the JPYC project as the country's first yen stablecoin. Support is also given to joint stablecoin projects of major banks such as Mizuho Bank, MUFG, and SMBC. According to industry sources, many large financial institutions in Japan are working on similar digital currency projects. SBI and Startale plan to launch after completing all necessary compliance and licensing processes under the memorandum of understanding they signed. The companies aim to offer a strong yen-based alternative in the global stablecoin market, which has a circulating supply exceeding $300 billion and is largely dominated by the US dollar.
