According to CoinMeta, BlackRock Financial Management Company has signed a memorandum of understanding with SBI-controlled Startale Group to explore the connection of tokenized money market funds with SBI's Japanese yen stablecoin JPYSC. The three parties will assess the feasibility of this connection in three areas: technical infrastructure, business and distribution, and regulatory and market development, and plan to open up cooperation to Japanese and international financial institutions and enterprises. SBI launched JPYSC in June of this year; this stablecoin is managed and issued by SBI New Trust Bank, with SBI VC Trade responsible for its distribution.