SBI and Startale Labs Launch Regulated JPY Stablecoin for Global Crypto Settlements

Japanese financial giant SBI Holdings, in partnership with Web3 infrastructure firm Startale Labs, has announced plans to launch a regulated yen-pegged stablecoin. This initiative aims to facilitate global digital asset settlements and enhance Japan's presence in the blockchain-based financial ecosystem. The stablecoin will operate within Japan's newly established legal framework for digital assets, ensuring full regulatory compliance. The move is seen as a strategic step to bridge traditional finance with decentralized finance (DeFi), leveraging the stability of the Japanese yen for cross-border transactions and settlements in the crypto space.