SBI Holdings and Startale Target Q2 2026 for Major Regulated Yen Stablecoin Launch

Japan's financial giants are building a bridge to the future—and it's made of code. A major partnership is setting its sights on a regulated digital yen, aiming to launch in the second quarter of 2026.

The Regulatory Runway

This isn't a speculative moonshot. The timeline points to a deliberate, compliance-first approach. The partners are navigating Japan's Financial Services Agency (FSA) framework, building a stablecoin designed to live within the rules from day one. It's a stark contrast to the 'move fast and break things' ethos of crypto's past.

Why a Yen Peg Matters

Forget volatile memecoins. A regulated yen-pegged digital asset offers something radical: stability. It creates a trusted on-ramp for institutional capital and a seamless settlement layer for decentralized finance. This could unlock billions in trapped liquidity, letting traditional finance interact with blockchain ecosystems without the currency risk headache.

The Institutional On-Ramp

The move signals a maturation of the crypto asset class. Major financial players aren't just investing in Bitcoin—they're building the plumbing for a hybrid financial system. A compliant stablecoin acts as the essential gateway, allowing everything from corporate treasury management to real-time cross-border payments to flow onto blockchain rails.

The launch target of Q2 2026 feels both ambitious and calculated—giving just enough time for regulators to nod along while the market waits, wallets open. After all, in traditional finance, the biggest profits often go to those who build the toll road first.

TLDR

• SBI Holdings and Startale Group signed a memorandum of understanding to create a regulated Japanese yen stablecoin launching in Q2 2026
• Shinsei Trust & Banking will handle issuance and redemption while SBI VC Trade manages circulation as a licensed crypto exchange
• The stablecoin targets cross-border settlement, tokenized assets, and integration with traditional finance under Japan’s new regulatory framework
• Japan’s Financial Services Agency launched a Payment Innovation Project backing yen stablecoin pilots from three megabanks
• SBI previously integrated Circle’s USDC in March 2025 and partnered with Ripple to bring RLUSD stablecoin to Japan in early 2026

Japanese financial giant SBI Holdings and Web3 company Startale Group signed a memorandum of understanding to develop a regulated yen stablecoin. The digital currency targets a second quarter 2026 launch pending regulatory approval.

JUST IN:Japan's banking giant SBI is set to launch a yen-denominated stablecoin in Q2 2026. pic.twitter.com/h2ZIDGDBar

— Coin Bureau (@coinbureau) December 16, 2025

Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank, will handle issuance and redemption of the stablecoin. SBI VC Trade, a licensed crypto asset exchange, will manage circulation of the digital yen.

Yoshitaka Kitao, chairman and president of SBI Holdings, said the stablecoin will serve as foundation for Japan’s token economy transition. The project aims to provide digital financial services integrated with traditional finance both domestically and globally.

The stablecoin initiative operates under Japan’s new regulatory framework for digital currencies. Japan’s Financial Services Agency recently launched its Payment Innovation Project as a regulatory sandbox for blockchain payments.

Japan’s Megabanks Join Stablecoin Push

The FSA program already backs yen stablecoin pilots from three major Japanese banks. Mitsubishi UFJ Financial Group, Sumitomo Mitsui Banking Corp, and Mizuho Bank each launched pilot projects under the regulatory sandbox.

The SBI and Startale stablecoin will complement these bank-led pilots. The digital yen is designed for cross-border settlement, tokenized equities, and real-world asset flows.

Startale leads technical development including smart contracts and security infrastructure. SBI oversees compliance frameworks and institutional distribution channels.

The new yen stablecoin will work alongside Startale USD, the company’s dollar-denominated stablecoin. USDSC provides dollar liquidity while the yen coin handles regulated yen transactions for foreign exchange and settlement.

SBI Expands Stablecoin Portfolio

SBI emerged as a central player in Japan’s stablecoin development with a multicurrency strategy. The company pursues both dollar and yen-denominated digital assets.

In March 2025, SBI VC Trade integrated Circle’s USDC stablecoin into its exchange platform. The MOVE made SBI among the first Japanese platforms to offer crypto trading in USDC after the country relaxed stablecoin rules.

Ripple announced on August 21 that it would bring its RLUSD stablecoin to Japan in early 2026. The partnership with SBI VC Trade offers institutions a regulated stablecoin for enterprise use cases.

The global stablecoin market reached $300 billion in value. Dollar-pegged tokens currently dominate the market.

Stablecoins are cryptocurrencies pegged to assets like fiat currencies or gold. They serve as payment rails and tools for moving money across borders in the crypto economy.

The yen stablecoin project targets tokenized asset markets and global settlement infrastructure. Trust banks and licensed entities FORM the center of Japan’s onchain settlement plans under the FSA framework.