According to the Nikkei Asian Review, Sumitomo Mitsui FG plans to invest 5% in "SBI Startale Marketing," a joint venture between SBI Holdings and Startale Group, and collaborate with SBI on capital and business to develop financial services using the yen-denominated stablecoin JPYSC for asset management and payments, leveraging SBI's customer base. The joint venture plans to expand the circulation and uses of JPYSC with the participation of Sumitomo Mitsui FG; Sumitomo Mitsui Banking Corporation will also explore the possibility of using it for on-chain financial product settlement and instant settlement in the future. JPYSC, issued by SBI Shinsei Trust Bank and circulated by SBI VC Trade, was launched on June 24th, and as of October 30th, the outstanding balance was approximately 20.8 billion yen. https://wublock123.com/news/mitsui-sumitomo-fg-5pc-invest-sbi-startale-jpy-stablecoin-partnership-70985