Nonagon Capital Begins Business Partnership with Startale Group, Developer of the Japanese Yen-Pegged Trust-Type Stablecoin "JPYSC"

Nonagon Capital (Headquarters: San Francisco Bay Area, USA; Representative Executive Officer: Kazushi Okamoto; hereinafter "Nonagon Capital") and Startale Group (Headquarters: Singapore; CEO: Sota Watanabe; hereinafter "Startale Group") are pleased to announce the commencement of a business partnership. The two companies will jointly promote proof-of-concept experiments and business development utilizing the Japanese yen-pegged trust-type stablecoin "JPYSC".

Overview and Features of the Stablecoin "JPYSC"

JPYSC is a Japanese yen-pegged trust-type stablecoin being jointly developed under a strategic partnership between the SBI Group and Startale Group.

Based on Japan's financial regulatory framework, JPYSC will be issued by Shinsei Trust & Banking, a subsidiary of SBI Shinsei Bank, as a "Type III Electronic Payment Instrument (Trust-type)." Through a framework that manages the underlying assets in a trust, users' assets are preserved and managed under high safety standards.

The main features of JPYSC include the following. First, it is designed to comply with relevant laws and financial regulations as a highly reliable trust-type Type III Electronic Payment Instrument. Second, unlike Type I Electronic Payment Instruments, it is not subject to the 1 million yen per transaction limit applied to domestic remittances and other transactions. This feature is crucial for accommodating B2B payments and large-scale transactions at the institutional investor level. Furthermore, through a design that seamlessly connects existing financial systems with blockchain networks, it aims to achieve global interoperability and establish a foundation for an internationally trusted "Digital Yen."

SBI VC Trade Co., Ltd. serves as the sales partner, while Startale Group acts as the core partner leading the technical aspects, such as smart contract design and security system construction. The official launch for issuance is scheduled for April-June 2026.

The Future Potential of AI Agent Payments

Because stablecoins possess the properties of fiat currency that can be used in digital spaces, their applications are diverse. Among them, it is anticipated that they will be widely used particularly for payments by AI agents. According to the report "The future of commerce in an agentic world" published by Deloitte, the scale of commerce conducted by AI agents is projected to reach $17.5 trillion (approximately 2,700 trillion yen, or about four times Japan's GDP) by 2030, which is expected to become an exceptionally large market.

The role of AI agents is evolving far beyond the realm of traditional personal assistants, becoming core tools that autonomously support corporate economic activities. Particularly in the United States, numerous startups related to AI agent payments are emerging, and major corporations are advancing new business developments, forming an unprecedentedly massive economic sphere.

The key to this economic sphere is autonomous payment by AI agents. Specific examples include the purchase of goods and services conducted without human intervention, investment activities by AI, and API payments accompanying the provision of services between AI agents. As payment behaviors traditionally performed by humans shift to AI, a future is predicted where payments not only to individuals and corporations but also between AI agents will become an everyday occurrence.

Nonagon Capital is convinced that this area of "Agentic Payment," where "blockchain" and "AI agents" intersect, will become the core of the next-generation economy. In February 2026, it announced that it would focus on investment and business development in this domain.

Reference: Nonagon Capital Begins Investment and Business Development in the AI Agent Payment Domain

The Possibilities Blockchain Technology Brings to AI Agent Payments

Existing payment services are beginning to support payments by AI agents. On the other hand, payments based on blockchain technology possess essential elements necessary for AI agents to conduct economic activities autonomously.

First, blockchain functions as a globally available data infrastructure. Therefore, once the KYA (Know Your Agent) identity verification procedure for agents utilizing DID (Decentralized Identity) and VC (Verifiable Credentials) is completed, subsequent identity verifications and new registration procedures for each service are significantly simplified.

An AI agent linked to a Web3 wallet can cross-utilize various on-chain services simply by presenting the VC issued through KYA. This seamless access is a prerequisite for AI agents to autonomously execute purchases and investments by conducting price comparisons and market research across multiple platforms.

Furthermore, even in small-value and high-frequency micropayments, the low-cost and immediate mechanisms of blockchain enable transactions that were difficult with existing payment methods due to fees and processing speed constraints. Transaction formats that were previously unprofitable, such as purchasing content or data on an as-needed basis, will be established as routine economic activities for AI agents.

In addition, by utilizing smart contracts, AI agents have the potential to autonomously define and execute payment methods using stablecoins, such as setting payment conditions and automatic execution based on specific criteria. Automatic billing for services provided by robots and the execution of conditional orders in investments are also positioned as extensions of this capability.

Based on these characteristics, we believe that utilizing blockchain will allow AI agents to be used securely in the following use cases. This partnership also includes within its scope conducting proof-of-concept experiments in Japan, aiming to create use cases where AI agents utilize JPYSC.

We envision the following use cases for individuals and businesses respectively.

Use Cases for Individuals

• After conducting price comparisons and market research, an AI agent autonomously carries out all purchasing activities for services and products on behalf of the user.

• An AI agent autonomously executes investment activities targeting on-chain assets (security tokens, digital corporate bonds, etc.).

Use Cases for Businesses

• When acquiring media content or data intended for commercial use, an AI agent pays the costs via micropayments using stablecoins.

• Based on the results of market research, drafting project proposals and business plans for new ventures.

• Highly specialized AI agents negotiate with each other regarding data exchange and the actual provision of services, advancing business autonomously on behalf of humans.

• Physical robots equipped with AI agents provide services and receive payments.

Future Outlook

Through this partnership, the two companies plan to implement the following initiatives toward the creation of use cases and the proliferation of the stablecoin "JPYSC," while leveraging their respective strengths. Details will be announced via press releases and other means as appropriate.

• Implementation of proof-of-concept experiments regarding agent payments utilizing JPYSC

• Design and proposal of stablecoin utilization use cases for domestic companies

• Technical verification leveraging expertise in validator operations and DeFi operations

About Startale Group

Startale Group is a global fintech company originating from Japan, with the mission of "Creating the next civilization by making the world on-chain." In collaboration with the SBI Group, it is developing "Strium," a platform that enables continuous trading of tokenized assets, while also working on building an on-chain financial infrastructure through JPYSC and USDSC. Additionally, it is co-developing the blockchain "Soneium" with the Sony Group. Furthermore, based on these initiatives, it operates "Startale App," a super app that seamlessly connects asset management, communities, and on-chain apps.

Official Website: https://startale.com/ja

About Nonagon Capital

Nonagon Capital is a venture fund primarily based in the San Francisco Bay Area that invests in blockchain projects. With a network of frontline players worldwide, and a strength in acting as a bridge between the North American and Asian markets—especially the Japanese market—it focuses on seed-stage investments in infrastructure, DeFi, DAO, and entertainment-related projects globally. With the mission of "creating projects that will popularize Web3 globally," it also promotes validator operation businesses and community businesses for enterprises, and will continue to proactively engage in investment and business activities in the blockchain domain.

Official Website: https://www.nonagon.xyz/
Nonagon Capital Introduction Materials: https://drive.google.com/drive/folders/1bGibM0iJEoaMjeNLc_RwNWd9xSJgdjy_?usp=sharing