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BlackRock is jointly reviewing a plan to link a tokenized money market fund with a yen-denominated stablecoin alongside Japanese financial group SBI Holdings and blockchain company Startale Group, The Block reported.
The collaboration will focus on connecting SBI-issued yen stablecoin JPYSC with a tokenized MMF across three areas: technology and infrastructure, business models and distribution, and regulatory and market development. The parties plan to examine the technical requirements and infrastructure needed to integrate the two assets, explore business models and distribution opportunities using each company’s network and market access, and review regulatory trends related to tokenized assets and stablecoins. The cooperation will also be open to financial institutions and companies in Japan and overseas.