SBI Holdings and Startale Group have joined Open Standard and will explore interoperability between the OUSD and JPYSC stablecoins.
SBI Holdings and Startale Group have joined Open Standard, an alliance of more than 140 companies, including Visa, Stripe, Mastercard, BlackRock, and Coinbase, that promotes the adoption of Open USD (OUSD), a US dollar-denominated stablecoin designed for settlement. As part of the move, the two companies will explore interoperability between OUSD and JPYSC, the yen-denominated trust-type stablecoin issued by SBI Shinsei Trust Bank. The public onchain launch of OUSD provides the basis for the partnership, with the companies aiming to make settlement between the yen and the US dollar faster and more efficient.
Building on stablecoin initiatives in Asia
The announcement follows the passage of the GENIUS Act in the US, which has accelerated the development of regulated stablecoin infrastructure globally. Open Standard was launched in June 2026 with the aim of establishing OUSD as a common settlement layer for the onchain economy. In July 2026, SBI Global Asset Management, DigiFT Tech, and Startale unveiled a proof of concept for settlement and distribution payments on tokenised securities, designed with JPYSC’s future use in mind, while Startale has continued to broaden JPYSC’s use cases and build institutional trading infrastructure.
Yoshitaka Kitao, Representative Director, Chairman, President, and CEO of SBI Holdings, stated that SBI is working to establish an ‘SBI APAC Digital Economic Zone’ focused on transactions across borders and currencies, and that convertibility between yen- and dollar-denominated stablecoins is central to this goal. He added that SBI Group already offers the US dollar stablecoins USDC and RLUSD in Japan.
Strengthening yen liquidity onchain
Sota Watanabe, CEO of Startale Group, stated that the companies aim to connect Japanese assets and financial services with global onchain markets by developing concrete use cases with SBI and Open Standard’s partner companies, starting with a pilot of interoperability between JPYSC and OUSD.
By joining Open Standard, SBI and Startale aim to position JPYSC for deeper integration with global stablecoin infrastructure and strengthen the international liquidity of yen-denominated assets, working within applicable regulatory frameworks. The collaboration remains at an exploratory stage, but direct conversion between dollar and yen stablecoins onchain could offer an alternative route for yen-dollar settlement alongside traditional foreign exchange channels.
