Japan’s financial sector is taking another step toward digital assets, as SBI Holdings announced plans to launch a Japanese yen–pegged stablecoin in partnership with blockchain firm Startale Group. The initiative reflects a broader push in Japan to blend traditional finance with regulated digital currencies.
SBI Holdings, a Tokyo-listed financial conglomerate with deep roots in banking, securities, and asset management, will work with Startale to develop the stablecoin, which is expected to debut in the second quarter of 2026. The token has not yet been named, but the companies describe it as a fully regulated, yen-denominated stablecoin designed for global settlement and institutional use.
The partnership combines SBI’s position as a major financial institution in Japan with Startale’s Web3 experience. Startale is known for its role in co-developing Soneium, a blockchain network backed by Sony, and for building infrastructure aimed at enterprise and institutional adoption.
Yoshitaka Kitao, Chairman and President of SBI Holdings, framed the project as part of a broader shift in financial systems. He said the move toward a token-based economy is accelerating and that circulating a yen stablecoin both domestically and internationally could help bridge digital assets and traditional finance. According to SBI, the goal is to make digital financial services more practical and accessible while remaining within Japan’s regulatory framework.
Under the proposed structure, Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank, will handle the issuance and redemption of the stablecoin. SBI VC Trade, which is licensed as a Crypto Asset Exchange Service Provider in Japan, will support its circulation. This setup is intended to ensure compliance with local regulations, an important factor in Japan’s cautious but supportive approach to stablecoins.
The yen-pegged stablecoin will also complement Startale’s existing digital currency offerings. Earlier this year, the company launched Startale USD (USDSC), a U.S. dollar–denominated stablecoin designed for payments, rewards, and liquidity within the Soneium ecosystem. Together, the yen stablecoin and USDSC are expected to form what the partners call a “complementary currency stack,” supporting a planned 24/7 tokenized stock exchange.
Sota Watanabe, CEO of Startale, said the yen stablecoin is intended to go beyond everyday payments. He pointed to potential use cases such as on-chain settlement for tokenized assets and payments between AI-driven systems, areas he believes will become increasingly relevant as blockchain-based infrastructure matures.
SBI’s involvement in stablecoins is not new. In August, the company announced a separate partnership with Ripple to introduce Ripple USD (RLUSD) to the Japanese market, also targeted for 2026. These efforts suggest SBI is positioning itself as a key player in the regulated digital currency space.
The project also aligns with wider developments in Japan. The Financial Services Agency has recently approved JPYC to launch as the country’s first domestic yen stablecoin. Regulators have also expressed support for a joint stablecoin initiative involving major banks including Mizuho Bank, MUFG, and Sumitomo Mitsui Banking Corporation, signaling growing institutional interest in yen-based digital currencies.
