$15.5 trillion asset manager BlackRock has signed a new agreement with Ripple partner SBI Holdings and Startale Group to connect tokenized investment funds with Japan’s yen stablecoin, JPYSC.
The partnership aims to link traditional financial assets with blockchain-based payments and support Japan’s growing onchain finance market.
On October 27, 2026, SBI Holdings and Startale Group announced that it signed a memorandum of understanding (MOU) with BlackRock Financial Management (BFM) and BlackRock Japan.
The partnership brings together BlackRock’s asset management expertise, SBI’s financial services network, and Startale’s blockchain technology to explore ways to connect tokenized funds with JPYSC. The goal is to support the growth of on-chain finance in Japan and other markets.
SBI Chairman Yoshitaka Kitao said the shift to onchain finance is becoming an “unavoidable global trend.” He added that Japan must “prepare early and build the foundations for the next generation of financial markets” if it wants to lead this change.
Meanwhile, the companies have not announced a live product or a launch date.
The partnership will explore whether tokenized money market funds can work with JPYSC, a yen-denominated trust-type stablecoin issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade.
Tokenized money market funds represent investments as digital tokens on a blockchain. Connecting them with JPYSC could make it easier to move money between digital investments and yen-based payments.
Startale CEO Sota Watanabe said connecting JPYSC with tokenized money market funds is “an important step toward building the foundations of onchain finance.”
BlackRock’s BUIDL fund is one example of a tokenized fund, but the companies have not confirmed whether JPYSC will integrate with it directly.
All these companies will examine the technical, business, and regulatory requirements for connecting tokenized funds with JPYSC. They also plan to engage with financial institutions and other businesses to explore wider cooperation.
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