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Sumitomo Mitsui FG plans to invest in SBI approximately in a joint venture with Startale 5%, promoting the yen stablecoin JPYSC in asset management, payments, and blockchain financial products.
BlackRock-related entities and SBI Holdings and Startale sign a memorandum of understanding to explore connecting tokenized MMF with a yen stablecoin JPYSC.
JPYC said that on September 14 it provided information to the Japan Fair Trade Commission, explaining the competitive environment for cashless payments using yen stablecoins and the issue of merchant discounts.