BlackRock, SBI and Startale Explore Tokenized Fund Links in Japan

The agreement focuses on technical development, business distribution, and regulatory compliance, though it stops short of setting a commercial launch date or selecting specific funds for integration. By bringing tokenized investment products into the same ecosystem as a yen-based payment instrument, the firms seek to bridge traditional capital markets with emerging on-chain financial services.

SBI Holdings provides the banking and digital asset operations, while Startale contributes the blockchain development expertise. The project leverages Japan’s existing legal framework, specifically amendments to the Payment Services Act, which governs fiat-linked payment instruments. BlackRock Japan President Yukiko Hashimoto noted that the initiative aims to advance local financial markets and provide new value to investors. While no specific fund has been identified for the project, the move signals a broader effort to expand the scope of BlackRock’s tokenization work, which already includes the BUIDL fund, into the Japanese market.