Sumitomo Mitsui to Take Near-5% Stake in SBI's Yen Stablecoin Venture

Sumitomo Mitsui FG will buy a near-5% stake in SBI Startale Marketing to push the JPYSC yen stablecoin into retail banking services and payments. The move brings a major traditional bank into the stablecoin ecosystem, potentially expanding the use of yen-pegged digital assets in mainstream finance.