BlackRock, SBI and Startale Explore Fund Link to Yen Stablecoin
Edited by Steinar Vigdel Kolnes, Editor, Oslo
BlackRock entities have joined SBI Holdings and Startale Group to study connecting tokenized money market funds with Japan’s JPYSC yen stablecoin.
BlackRock has signed a memorandum of understanding with SBI Holdings and Startale Group to explore linking tokenized money market funds to JPYSC, a trust bank-backed yen stablecoin in Japan.
The agreement names four participants: SBI Holdings, Startale Group, BlackRock Financial Management and BlackRock Japan.
The proposed work will assess whether tokenized money market funds can be integrated with JPYSC. The agreement is exploratory, rather than an announcement of a completed integration.
Source: Bitcoin.com News