Japan's SBI and Startale Announce Plans for Regulated Yen Stablecoin by 2026

Japanese financial giant SBI Holdings, alongside Web3 infrastructure firm Startale Group, has officially signed a memorandum of understanding (MoU) to create a fully regulated stablecoin pegged to the Japanese yen. This initiative targets the tokenized asset market and aims for global settlement, as highlighted in a recent press release from the companies shared with Cointelegraph.

Key Takeaways

SBI Holdings and Startale Group are set to create a regulated yen stablecoin, aiming for a 2026 launch.
The stablecoin will be issued by Shinsei Trust & Banking and supported by SBI VC Trade.
Yoshitaka Kitao emphasizes its importance for integrating digital and traditional financial services.
Japan is prioritizing stablecoin regulations to enhance blockchain-based payment solutions.
SBI continues to play a pivotal role in Japan's stablecoin strategy with a focus on multicurrency offerings.

Japan’s SBI and Startale plan regulated yen stablecoin in 2026 under new framework

As part of the agreement, Shinsei Trust & Banking— a wholly-owned subsidiary of SBI Shinsei Bank—will manage the issuance and redemption of this stablecoin. Additionally, the licensed crypto asset exchange provider, SBI VC Trade, will facilitate the stablecoin's circulation.

According to Yoshitaka Kitao, the representative director, chairman, and president of SBI Holdings, launching a yen-denominated stablecoin with Startale will be crucial for Japan's shift towards a token-based economy. He stated, “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.” The stablecoin is slated for launch in the second quarter of 2026, pending regulatory approvals and the establishment of compliance frameworks.

Japan's Push for Stablecoin Regulation

This initiative occurs as Japan increases its efforts to clarify regulations surrounding stablecoin issuance, orienting trust banks and licensed institutions at the heart of their blockchain settlement infrastructure.

Recently, Japan's Financial Services Agency (FSA), which oversees banking, securities, and insurance sectors, began its Payment Innovation Project—a regulatory sandbox focused on blockchain-based payment solutions. The first pilot of this program will support the issuance of yen-denominated stablecoins by three of Japan’s major banks: Mitsubishi UFJ Financial Group (MUFG), Bank Sumitomo Mitsui Banking Corp. (SMBC), and Mizuho Bank.

In light of this environment, the collaboration between Startale and SBI aims to enhance bank-led initiatives by launching a programmable digital yen issued by a trust bank, intended for cross-border settlements, tokenized equities, and real-world asset (RWA) transactions.

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SBI's Role in the Evolving Stablecoin Landscape

SBI is emerging as a key player in Japan’s changing stablecoin landscape by adopting a multicurrency strategy that includes both dollar and yen-denominated assets.

In March, SBI VC Trade integrated Circle’s USDC stablecoin onto its exchange platform, marking it as one of the first Japanese exchanges to facilitate crypto trading in USDC as the country relaxed its stablecoin regulations.

On August 21, Ripple revealed plans to introduce its RLUSD stablecoin to Japan in early 2026 through a partnership with SBI VC Trade. This collaboration aims to provide institutions and users with a regulated stablecoin tailored for enterprise applications.

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