BlackRock Financial Management, BlackRock Japan, SBI Holdings and Startale Group have signed a memorandum of understanding to study the interconnection of tokenized money market funds with JPYSC, the yen stablecoin issued by SBI Shinsei Trust Bank. The partners will examine the technological infrastructure, business models, distribution channels and regulatory considerations involved in the integration. The goal is to allow investors to move between a yield-bearing tokenized fund and a payment token without relying on traditional banking rails. Launched on June 24, 2026, JPYSC had a circulating supply of approximately 20.7 billion tokens, worth $131.5 million, as of October 26, 2026, and its reserves include short-term Japanese government bonds. BlackRock manages roughly $2 billion in tokenized products, including BUIDL, but no integration with JPYSC has been confirmed.
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