Yoshitaka Kitao stated the yen-denominated stablecoin will serve as a foundation for the country's transition into a token economy.
Crypto News
Japanese financial conglomerate SBI Holdings has partnered with Web3 infrastructure provider Startale Group to develop a regulated Japanese yen-denominated stablecoin targeting tokenized asset markets and global settlement systems.
The project will be issued and redeemed through Shinsei Trust & Banking, a wholly-owned subsidiary of SBI Shinsei Bank. Licensed crypto asset exchange service provider SBI VC Trade will support the digital currency’s circulation.
Launch is scheduled for the second quarter of 2026, subject to regulatory approvals and completion of compliance frameworks. The initiative positions trust banks and licensed entities at the center of on-chain settlement infrastructure.
SBI Holdings representative director, chairman, and president Yoshitaka Kitao stated the yen-denominated stablecoin will serve as a foundation for the country's transition into a token economy. The goal is to accelerate the provision of digital financial services integrated with traditional finance through domestic and global circulation.
Japan's Financial Services Agency recently launched its Payment Innovation Project, a regulatory sandbox for blockchain-based payments. The program's first official pilot backed yen-denominated stablecoins issued by three megabanks: Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp., and Mizuho Bank.
The Startale and SBI effort will complement bank-led pilots by introducing a programmable, trust-bank-issued digital yen designed for cross-border settlement, tokenized equities, and real-world asset flows.
SBI emerged as a central player in Japan's evolving stablecoin landscape through a multicurrency strategy spanning both dollar and yen-denominated assets. In March, SBI VC Trade integrated Circle's USDC stablecoin into its exchange platform as Japan softened its stablecoin rules.
Ripple announced in August it would bring its RLUSD stablecoin to Japan in early 2026 through a partnership with SBI VC Trade. The regulated stablecoin is designed for enterprise use cases targeting institutions and users.
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