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Sumitomo Mitsui Financial Group will invest approximately 5% in SBI Startale Marketing, a joint venture between SBI Holdings and Startale Group. Sumitomo Mitsui Financial Group plans to leverage its 24 million individual customer base to collaborate with SBI in developing financial services using the Japanese yen stablecoin JPYSC for asset management and payments. JPYSC is issued by SBI Shinsei Trust Bank, with an outstanding balance of approximately 20.8 billion yen as of October 30. Sumitomo Mitsui Banking Corporation is also pursuing a joint issuance of stablecoins with Mitsubishi UFJ and Mizuho Securities, and confirmed the feasibility of this joint issuance model on October 16.