Launch is targeted for the second quarter of 2026, pending regulatory approvals and completion of compliance frameworks.

Startale will lead the technical development—smart contracts, cross-border interoperability, API design, security, and compliance tooling—while SBI coordinates regulatory engagement and distribution strategy.

Issuance and redemption will occur through Shinsei Trust & Banking, with circulation supported by SBI VC Trade, and adoption across the SBI Group.

SBI Holdings and Startale Group formalize a plan to develop a regulated, yen-denominated stablecoin for tokenized assets and global settlement, signaling institutional validation and aligning with Japan’s digital finance growth.

The yen stablecoin will be issued as a trust-based Type 3 Electronic Payment Instrument under Japanese law, enabling larger value transfers beyond domestic limits.

The stablecoin is designed for institutional use, enabling use cases such as global settlements between financial institutions, tokenized finance and capital markets, on-chain cash management for enterprises, and payments between autonomous AI agents.

The program is expected to deliver faster, cheaper, around-the-clock transactions, though it faces regulatory, security, and adoption challenges.

The project aims to speed up cross-border payments, reduce costs, offer 24/7 availability, and provide programmable money for automated processes, with regulators preparing for its introduction.

The yen-stablecoin will be issued and redeemed by Shinsei Trust & Banking (a subsidiary of SBI Shinsei Bank) and circulated via SBI VC Trade, highlighting a banked framework for enterprise use.

The initiative could elevate global interest in stablecoins beyond the U.S. dollar and serve as a model for other countries pursuing national stablecoins, contingent on regulatory alignment.

Startale and SBI will share responsibilities for technology readiness and regulatory alignment; broader plans include tokenized real-world assets and an on-chain trading platform for tokenized assets.

The effort is framed as infrastructure for emerging on-chain economies and global deployment, with broader use cases like tokenized asset distributions and automated on-chain payments.