BlackRock, SBI and Startale explore connecting tokenized funds with a yen stablecoin

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BlackRock, SBI Holdings and Startale Group signed a memorandum of understanding to explore connecting tokenized money market funds (MMFs) with the yen stablecoin JPYSC. The three parties will study the required technology, potential business models and distribution opportunities, and assess regulatory issues and developments in the tokenized asset and stablecoin markets; the collaboration may also be opened to financial institutions and companies in Japan and overseas.