Sumitomo Mitsui and SBI form stablecoin tie-up with 5% stake in venture
- —SMFG to acquire about 5% of SBI Startale Marketing
- —JPYSC to reach 24 million SMBC retail customers
- —Tokenized asset trading and instant settlement in JPYSC under review
- —SMFG has held roughly 10% of SBI Holdings since 2022
Why it matters: Japan's largest banks are moving stablecoins into retail payments, accelerating the legitimization of digital assets in the country.
Source: CoinPost