The $15.5 trillion asset manager will work with SBI and Startale to examine how tokenized funds can be integrated with the yen-backed stablecoin known as JPYSC. BlackRock signed a memorandum of understanding with the two firms to explore the connectivity between tokenized money market funds and the digital asset in an effort to advance onchain finance in Japan.
JPYSC is developed by SBI and Startale as a stablecoin pegged to the Japanese yen. SBI’s chairman stated that the transition toward onchain finance is currently an “unavoidable global trend.”