21th October, 2026
By Shubhii Verma
Japan’s financial services group SBI Holdings and Singapore-registered Web3 infrastructure developer Startale Group have joined Open Standard, an alliance supporting the US dollar stablecoin Open USD (OUSD).
SBI said the companies will also explore connecting OUSD with JPYSC, a yen-denominated stablecoin launched by SBI and Startale. The proposed pilot aims to make yen-dollar settlement faster and easier onchain.
Open Standard Alliance Expands Yen-Dollar Stablecoin Integration
Open Standard, launched in June 2026, has more than 140 members, including Visa, Stripe, Mastercard, BlackRock, and Coinbase. Its objective is to establish OUSD as a settlement layer for the onchain economy. The stablecoin launched on Solana.
According to the alliance, partners can issue and redeem OUSD without fees or transaction limits. Most reserve income remaining after costs is returned to partners, offering participants an incentive to support the network.
JPYSC is issued by SBI Shinsei Trust Bank under Japan’s Payment Services Act and trust law. SBI and Startale launched it on June 24, 2026, initially for customers using SBI VC Trade. Wider availability across public blockchains remains subject to legal, tax, and regulatory approvals.
SBI and Startale Explore JPYSC-OUSD Cross-Border Settlements
SBI Holdings Chairman, President and CEO Yoshitaka Kitao said cross-border transactions are likely to become more common as finance moves onchain. SBI’s planned “SBI APAC Digital Economic Zone” depends, he said, on seamless conversion between yen- and dollar-denominated stablecoins. SBI has also become the first company in Japan to offer USDC and RLUSD, according to Kitao.
Startale CEO Sota Watanabe described a JPYSC-OUSD pilot as significant, saying that connecting yen and dollar assets onchain could unlock new opportunities.
In July 2026, SBI Global Asset Management, DigiFT Tech, and Startale announced a proof of concept for settling and distributing tokenized securities, potentially using JPYSC.
Blockwind News ANALYSIS
Blockwind News Analysis: Opportunities and Challenges for Stablecoin Interoperability
The proposed link reflects a broader effort to make stablecoins interoperable across currencies, jurisdictions, and blockchain-based financial services. If successful, it could reduce friction in cross-border settlement and create pathways between Japan’s regulated yen-token market and dollar-based onchain activity.
However, joining an alliance and exploring a pilot do not amount to a live payment corridor. Adoption will depend on technical integration, liquidity, regulatory approvals, redemption reliability, and institutional demand. Fee-free issuance and redemption may help participation, but reserve-income arrangements could influence which partners benefit most.
The key test is whether the connection delivers practical settlement advantages over existing payment rails without compromising compliance or stability. For now, the initiative is a signal of intent, not proof of large-scale usage.
