BlackRock, SBI and Startale to link tokenized money-market funds with JPYSC

BlackRock signed a memorandum of understanding with Japan's SBI Holdings and blockchain firm Startale Group to explore connecting BlackRock's tokenized money market funds with SBI's yen-denominated stablecoin JPYSC. BlackRock Financial Management and BlackRock Japan are parties to the agreement, signed Oct. 27.

The aim is to help develop onchain finance in Japan and globally by bridging a yen stablecoin with tokenized fund exposure. No details were disclosed on product design, issuance structure or a launch timeline.