Startale secures $63M from Sony, SBI Group

Startale, a Web3 joint venture between Japan's SBI Holdings, Sony, and the Astar Network Foundation, has raised $63 million in a Series A funding round, CoinDesk reported. The total combines a $13 million investment secured from the Sony Innovation Fund in January with a new $50 million from SBI Group. The funds are slated to be used to strengthen Strium, a Layer 1 chain dedicated to security tokens, enhance its stablecoin business, and improve its dedicated app. Startale has previously unveiled a Japanese yen stablecoin, JPYSC, and a U.S. dollar stablecoin, USDSC.