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Japan’s SBI Holdings and Startale, a web3 company jointly established by Sony and the Astar Network Foundation, announced on Oct. 16, according to an official blog, that they have joined the global stablecoin consortium Open Standard.
The two companies said they will pursue a pilot to test interoperability between the dollar stablecoin OUSD and the yen stablecoin JPYSC issued by SBI Shinsei Trust Bank. They also plan to explore ways to support real-time settlement and asset swaps between the yen and the U.S. dollar in on-chain environments.
Open Standard includes Coinbase, Mastercard, Shopify, Stripe and Visa, and aims to expand the use of its stablecoin OUSD as a common payment instrument for the on-chain economy.