SBI Holdings and Startale said they have joined Open Standard and will explore interoperability between OUSD and JPYSC, a move aimed at improving the international liquidity of yen-denominated assets. According to the official announcement, the two companies plan to keep working with Open Standard’s global partner network and build a secure, trusted and interoperable stablecoin ecosystem for the onchain era within applicable regulatory frameworks. SBI Holdings Chairman and President Yoshitaka Kitao said the group is taking part in Open Standard while pursuing a proof of concept for interoperability between OUSD and JPYSC. He added that SBI Group has become the first company in Japan to offer the U.S. dollar-denominated stablecoins USDC and RLUSD. Startale CEO Sota Watanabe said piloting interoperability between JPYSC and OUSD is meaningful because the yen and the U.S. dollar are among the world’s strongest and most trusted currencies. JPYSC is a yen-denominated, trust-backed stablecoin issued by SBI Shinsei Trust & Banking. Open Standard is a stablecoin alliance with more than 140 global companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase, and focuses on driving adoption of Open USD.
SBI Holdings and Startale said they have joined Open Standard and will explore interoperability between OUSD and JPYSC, according to an official announcement. The effort is aimed at strengthening the international liquidity of yen-denominated assets.
The two companies said they will continue working with Open Standard’s global partner network to help build a secure, trusted and interoperable stablecoin ecosystem for the onchain era within applicable regulatory frameworks.
Executives outline the plan
SBI Holdings Chairman and President Yoshitaka Kitao said, “We are participating in Open Standard and exploring a proof of concept for interoperability between OUSD and JPYSC. SBI Group has become the first company in Japan to offer the U.S. dollar-denominated stablecoins USDC and RLUSD, and we will continue to promote broader adoption of digital assets through partnerships with leading partners in Japan and overseas.”
Startale CEO Sota Watanabe said, “We believe piloting interoperability between JPYSC and OUSD is highly meaningful. The yen and the U.S. dollar are two of the world’s strongest and most trusted currencies, and enabling them to be exchanged and used seamlessly onchain could unlock significant opportunities.”
About JPYSC and Open Standard
JPYSC is a yen-denominated, trust-backed stablecoin issued by SBI Shinsei Trust & Banking Co., Ltd.
Open Standard is a stablecoin alliance made up of more than 140 global companies, including Visa, Stripe, Mastercard, BlackRock and Coinbase. The group is focused on driving adoption of Open USD, or OUSD.
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