TLDR
- SBI and Startale plan to launch a yen-denominated stablecoin in Q2 2026.
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The stablecoin will be issued by Shinsei Trust & Banking under FSA rules.
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The token targets cross-border settlement and institutional finance use.
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It complements Startale USD to power 24/7 tokenized finance platforms.
Japan’s SBI Holdings is partnering with blockchain firm Startale Group to launch a fully regulated, yen-pegged stablecoin aimed at global settlement and institutional adoption. The token is expected to go live in the second quarter of 2026, pending final regulatory approval.
The joint project marks a step toward integrating digital assets with traditional finance under Japan’s updated stablecoin framework.
Stablecoin Issuance and Circulation Structure
The yen-denominated stablecoin will be issued and redeemed by Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank. Circulation will be managed by SBI VC Trade, a licensed Crypto Asset Exchange Service Provider. Startale will handle blockchain development, smart contract design, and security infrastructure.
According to a joint press release, the stablecoin is designed as a compliant financial product for regulated markets. The project aims to provide programmable, on-chain settlement rails that are compatible with institutional systems and cross-border asset flows.
Yoshitaka Kitao, Chairman and President of SBI Holdings, stated, “The transition to a token economy is now an irreversible societal trend.” He added that the stablecoin will play a foundational role in merging digital and traditional finance systems.
Complementing Startale USD in Tokenized Ecosystem
The upcoming yen stablecoin will complement Startale USD (USDSC), the firm’s dollar-pegged institutional stablecoin. USDSC currently supports liquidity, rewards, and payments on the Soneium network, which was co-developed by Startale and is backed by Sony.
Together, these tokens will serve as a dual-currency foundation for Startale and SBI’s planned 24/7 tokenized stock exchange. This financial infrastructure is designed to allow continuous trading, settlement, and asset distribution in digital environments.
Sota Watanabe, CEO of Startale, said the yen stablecoin “will play a central role in a fully on-chain world,” and mentioned its use in AI-driven payments and tokenized asset distribution.
Alignment With Japan’s Stablecoin Regulations
The initiative follows recent changes in Japan’s regulatory environment, where the Financial Services Agency (FSA) introduced a framework for stablecoin issuance and oversight. These rules permit banks and licensed trust institutions to issue fiat-pegged tokens under controlled conditions.
Japan has seen other stablecoin efforts emerge, including JPYC’s approval as the country’s first yen stablecoin and a joint project involving MUFG, Mizuho Bank, and Sumitomo Mitsui Financial Group. These moves reflect national efforts to position Japan as a leader in regulated digital currency infrastructure.
The Startale-SBI project is part of the FSA’s Payment Innovation Project and aims to enhance cross-border payments and real-world asset tokenization using a programmable, yen-backed token.
Broader Role in the Stablecoin Market
With the global stablecoin market valued at over $300 billion and dominated by U.S. dollar-pegged assets, the new yen token seeks to offer diversification for both retail and institutional users. By combining regulated issuance, blockchain infrastructure, and cross-currency compatibility, the token may serve key roles in future global settlements.
The companies confirmed the stablecoin’s launch is scheduled for Q2 2026, pending the successful completion of compliance reviews and licensing.
Kelvin Munene
Kelvin Munene is a crypto and finance journalist with over 5 years of experience in market analysis and expert commentary. He holds a Bachelor’s degree in Journalism and Actuarial Science from Mount Kenya University and is known for meticulous research in cryptocurrency, blockchain, and financial markets. His work has been featured in top publications including Coingape, Cryptobasic, MetaNews, Coinedition, and Analytics Insight. Kelvin specializes in uncovering emerging crypto trends and delivering data-driven analyses to help readers make informed decisions. Outside of work, he enjoys chess, traveling, and exploring new adventures.
