Japanese financial group SBI Holdings has partnered with blockchain firm Startale Group, co-developer of the Soneium blockchain, to develop a regulated yen-denominated stablecoin for use in Japan and overseas.
According to a press release by SBI, the partners have signed a memorandum of understanding to design a programmable digital token that will track the Japanese currency and comply with financial rules in Japan and in other jurisdictions where it is used. They aim to start the project in the first quarter of their 2026 financial year.
The new token is planned as a so-called Type 3 electronic payment instrument, a category that is not subject to the current cap of one million yen on domestic transfers and account balances. The group says this structure will allow high-value payments and settlements in digital yen while remaining under regulatory oversight.
Startale will lead work on the technology, including smart contracts, application interfaces, security and compliance systems, and the broader ecosystem around the token, while SBI will focus on regulatory approvals and distribution, using its network of financial businesses to drive adoption among institutions and corporate users.
Shinsei Trust and Banking, a unit of SBI Shinsei Bank, is expected to handle issuance and redemption as trustee, while SBI VC Trade, a licensed crypto asset exchange, will support circulation of the token. Other parts of the SBI group will promote use of the stablecoin among investors and companies.
SBI Chairman and President Yoshitaka Kitao said the spread of token-based assets and digital settlement was now an irreversible trend, and that a yen stablecoin issued with Startale would form a key part of a wider digital financial infrastructure that links traditional services with blockchain-based platforms.
Startale Chief Executive Sota Watanabe said the coin was intended to support both everyday payments and a future in which many assets and transactions exist fully on-chain. He highlighted potential uses in payments between artificial intelligence agents and in distribution linked to tokenized assets and said the group wanted Japan to become a hub for what he called an on-chain revolution.
The companies say Japan has built a detailed legal framework for fiat-backed stablecoins and has positioned itself as a leader in regulated digital assets. They describe the project as an extension of earlier work on tokenized stocks and other blockchain-based financial infrastructure, with the aim of providing secure and transparent yen payments at high speed to users worldwide.
What Benefits Could a Yen Stablecoin Bring to Users and Companies?
A yen-backed stablecoin launched by a regulated financial group would give users a new way to hold and move money in a digital form without leaving their native currency.
A stable value linked to the yen can reduce the price volatility seen in most crypto assets while keeping the benefits of instant settlement on public blockchains. Cross-border transfers, small remittances, and payments inside crypto applications would become easier, with fewer intermediaries and more transparency on where funds are at any moment.
For companies, a well-designed yen stablecoin can act as a new settlement asset. Corporate treasurers could use it for round-the-clock payments, reducing the need to wait for banking hours or cut-off times, as automated transfers using smart contracts can streamline payroll, supplier financing, and recurring invoices.
Financial institutions would gain a tool for settling trades, collateral movements, and tokenized assets in near real time.
Over time, this type of instrument can support more efficient cash management, lower operational risk, and open the door for new business models built directly on blockchain-based financial rails.
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