BlackRock Financial Management and BlackRock Japan have signed a memorandum of understanding with SBI Holdings and Startale Group to explore connecting tokenized money market funds with the Japanese yen stablecoin JPYSC. The three parties will assess feasibility across technology infrastructure, business distribution, and regulatory development, with plans to open collaboration to financial institutions and enterprises in Japan and internationally. JPYSC was launched in June 2026 by SBI and Startale as Japan's first trust-bank-backed yen stablecoin, issued and managed by SBI Shinsei Trust Bank and distributed through SBI VC Trade. The partnership marks one of the most significant cross-border efforts to integrate traditional asset management products with regulated local stablecoin rails.