BlackRock signed a Memorandum of Understanding ( MOU ) on October 27, 2026, with SBI Holdings and Startale Group to explore tokenized finance.

This collaboration aims to connect tokenized money market funds with Japan's JPYSC stablecoin, which is denominated in Japanese yen.

However, this protocol is still in the exploratory stage, and no actual products or launch dates have been announced yet.

The BlackRock, which manages assets worth $15.5 trillion, has signed a new agreement with its partners SBI Holdings and Startale Group. The plan is to connect the tokenized investment funds with the Japanese yen stablecoin JPYSC.

This collaboration aims to connect traditional financial assets with blockchain-based payments and support Japan's growing on-chain financial market.

BlackRock partners with Ripple. SBI and Startale have signed MOU.

On October 27th, SBI Holdings and Startale Group announced that they had signed a Memorandum of Understanding (MOU) with BlackRock Financial Management ( BFM ) and BlackRock Japan.

This collaboration combines the asset management experience of BlackRock, the financial service network of SBI, and the blockchain technology of Startale to explore how to connect tokenized funds with JPYSC. The goal is to support the development of on-chain finance in Japan and other markets.

SBI The chairman, Yoshitaka Kitao, stated that the transformation towards blockchain-based finance is becoming "an inevitable global trend." He added that if Japan wishes to lead this change, it must "get ready as early as possible to lay the foundation for the next generation of financial markets."

Meanwhile, the companies have not yet announced the actual product or launch date.

JPYSC may link Japanese yen stablecoins to tokenized funds

This collaboration will study whether tokenized money market funds can operate in conjunction with JPYSC. JPYSC is a trust-based stablecoin denominated in Japanese yen, issued by SBI Shinsei Trust Bank and distributed by SBI VC Trade.

Tokenized money market funds refer to investments that are represented in the form of digital tokens on blockchain. Connecting them with JPYSC may make the flow of funds between digital investments and payments based on the Japanese yen more convenient.

Startale, the Chief Executive Officer, stated that connecting JPYSC with tokenized money market funds is "an important step towards building on-chain financial infrastructure."

The BUIDL fund of BlackRock is an example of a tokenized fund, but various companies have not confirmed whether JPYSC will be directly integrated with it.

What will happen next?

These companies will jointly research the technical, commercial, and regulatory requirements necessary to connect tokenized funds with JPYSC. They also plan to engage with financial institutions and other enterprises to explore broader forms of collaboration.