Japanese financial group SBI Holdings and Web3 infrastructure company Startale Group have signed a Memorandum of Understanding (MoU) to develop a fully regulated yen-denominated stablecoin targeting the tokenized asset market and global settlement. According to the MoU, the project will be issued and redeemed by Shinsei Trust & Banking, a wholly-owned subsidiary of SBI Shinsei Bank, while circulation will be supported by licensed crypto asset trading service provider SBI VC Trade. Yoshitaka Kitao, Representative Director, Chairman, and President of SBI Holdings, stated that the issuance of the yen-denominated stablecoin with Startale will form the basis for Japan's transition to a token economy. The stablecoin is expected to launch in the second quarter of 2026, with the exact timing depending on regulatory approvals and the completion of the compliance framework. This move comes as Japan accelerates stablecoin issuance under a clear regulatory framework, placing trust banks and licensed entities at the center of on-chain settlement infrastructure.