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This collaboration aims to connect BlackRock's institutional money market funds (MMFs) with the JPYSC Japanese Yen stablecoin
BlackRock has signed a tripartite memorandum of understanding with Japan's SBI Holdings and Singaporean Web3 developer Startale Group to promote tokenization in Japan. This collaboration aims to connect BlackRock's institutional money market funds (MMFs) with the JPYSC Japanese Yen stablecoin, with plans to bring traditional capital into distributed ledger technology. SBI Holdings is a key strategic partner and major shareholder of Ripple in Asia, and this move is interpreted by the market as BlackRock indirectly leveraging the Ripple network to enter the Asian market through SBI.
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