BlackRock has signed a trilateral memorandum of understanding with SBI Holdings and Singapore-based Web3 developer Startale Group to create a digital ecosystem linking its money market funds with the yen stablecoin JPYSC. The partners plan to integrate their platforms and tailor products to Japanese legislation so that traditional capital can move onto distributed ledgers. The arrangement could allow Japan to position itself in the emerging on-chain financial system without building a compliant payment infrastructure from scratch. SBI is a strategic Ripple partner in Asia, co-owner of SBI Ripple Asia, a leading promoter of interbank settlements based on XRP Ledger, and one of Ripple’s largest shareholders.
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