SBI Holdings has inked a deal with Startale Group to roll out a yen-denominated stablecoin, coming at a time when the adoption is rising.
In a strategic move, Startale Group and SBI Holdings have appended signatures on a Memorandum of Understanding (MoU) to develop a fully regulated, yen-denominated stablecoin. According to both companies, the digital currency is targeted towards global settlement and institutional use.
Combining SBI Holdings Capabilities with Startale Tech
On Dec.16, Tokyo-listed financial conglomerate SBI Holdings bagged a partnership with blockchain firm Startale Group.
Their ultimate goal is to roll out a Japanese yen-denominated stablecoin in the long run. To achieve this goal, the project intends to leverage Startale’s blockchain stack.
This includes its work on the Soneium network, which had partnered with Sony Bank to launch a yen-linked stablecoin in 2024.
The duo would also leverage SBI’s established position as a primary financial institution in Japan. The duo described this project as a fully regulated, purpose-built token for global settlement and institutional adoption.
Though it is yet to be named, the launch of the yen-denominated stablecoin is expected to happen in Q2 2026.
Yoshitaka Kitao, Chairman and President of SBI Holding, noted that “the transition to a ‘token economy’ is now an irreversible societal trend.”
Speaking of the latest development, he acknowledged:
“By circulating it both domestically and globally, we aim to dramatically accelerate the movement toward providing digital financial services that are fully integrated with traditional finance.”
Sota Watanabe, CEO of Startale, also admitted that there is great potential for this initiative.
Shinsei Trust & Banking, which is a subsidiary of SBI Shinsei Bank, is responsible for the issuance and redemption of the stablecoin. In addition, licensed crypto asset exchange service provider SBI VC Trade will handle the circulation of the token.
Tether Dominates Stablecoin Market by 60%
As one of the country’s largest financial groups, the initiative with SBI Holdings is targeting a share of the $300 billion stablecoin market, which is largely dominated by USD-pegged tokens.
Coinspeaker recently reported that stablecoins’ total market capitalization surged 50.95% Year-to-date (YTD) to $309.83 billion, marking a new All-time High (ATH).
It is worth noting that Tether commands up to 60% of the market share.
This major market share comes from the global utilization of USDT USDT $1.00 24h volatility: 0.0% Market cap: $186.28 B Vol. 24h: $90.14 B for top projects. Earlier this month, Abu Dhabi Global Market officially recognized the USDT stablecoin across multiple blockchains, including Aptos APT $1.57 24h volatility: 1.8% Market cap: $1.18 B Vol. 24h: $149.19 M , TON TON $1.54 24h volatility: 0.7% Market cap: $3.77 B Vol. 24h: $127.57 M , and TRON [NC]. This marked the beginning of a major regulatory expansion.
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