Huo Xing Cai Jing reports, according to The Block, BlackRock Financial Management, BlackRock Japan, Japanese financial group SBI Holdings, and Startale Group have signed a memorandum of understanding to explore connecting tokenized money market funds with the Japanese yen stablecoin JPYSC, and to study related technical infrastructure, business models, distribution channels, and regulatory requirements. The four companies stated that the collaboration aims to promote interoperability between tokenized assets and stablecoins, and to open cooperation opportunities to financial institutions and enterprises in Japan and internationally. The collaboration is currently in the exploration phase, and no specific implementation timeline has been announced. BlackRock launched its tokenized fund BUIDL in 2024, with assets under management of approximately $2.17 billion as of the time of this report. SBI Holdings, in partnership with Startale, launched JPYSC in June 2026, issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade.
BlackRock collaborates with SBI and Startale to explore tokenized fund and JPYSC integration.
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Summary
BlackRock and SBI have announced a partnership to explore the integration of tokenized funds with JPYSC. The collaboration, which includes Startale, focuses on technical infrastructure, business models, and regulatory compliance. BlackRock’s BUIDL fund manages $2.17 billion in assets. JPYSC, launched in June 2026, is issued by SBI Shinsei Trust Bank. This market update underscores ongoing efforts to connect tokenized assets with stablecoins in Japan.
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