NetStars and Startale Group Reach Basic Agreement to Promote Web3 Payments

NetStars Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Gang Li; hereinafter 'NetStars') announces that it has signed a Memorandum of Understanding (MOU) with Startale Group (Headquarters: Singapore; CEO: Sota Watanabe; hereinafter 'Startale'), which is jointly promoting the development and implementation of the Japanese yen-pegged stablecoin 'JPYSC' with the SBI Group, to collaborate on advancing the adoption of Web3-based payment solutions, including stablecoins.

Startale endorses NetStars' 'StarPay-X' initiative, a gateway concept designed to connect the financial worlds of Web2 and Web3, and is participating as one of its key partners. This MOU establishes a framework for jointly exploring the potential applications of digital currencies—including the yen-pegged stablecoin 'JPYSC' promoted by Startale—within the payments domain, under the umbrella of NetStars' 'StarPay-X' vision.

(Right) Takashi Tezuka, CEO of Startale Japan; (Left) Gang Li, President and CEO of NetStars Co., Ltd.

The 'StarPay-X' initiative promoted by NetStars aims to create a flexible environment where users and businesses can seamlessly choose payment methods based on their needs and contexts, extending existing cashless payment systems without being dependent on any single Web3 technology or service.

This collaboration with Startale specifically focuses on expanding the range of digital currencies available for payments, incorporating the concept of 'multi-coin' adoption.

Startale operates globally with the mission of 'creating the foundation of the next civilization by bringing the world on-chain,' engaging in a wide range of activities from blockchain infrastructure to application layers. In Japan, in collaboration with the SBI Group, Startale is advancing the development and real-world implementation of the yen-pegged stablecoin 'JPYSC,' promoting broader utilization of digital currencies. NetStars will leverage its expertise and merchant network cultivated in the Web2 payment sector to jointly explore ways with Startale to enhance user experience.

It should be noted that this MOU does not currently commit either party to specific service launches or implementations. Going forward, the two companies plan to accelerate the development of concrete service frameworks through this partnership.

Comment from Takashi Tezuka, CEO of Startale Japan

'We are very excited to collaborate under NetStars' 'StarPay-X' vision. Through this MOU, we aim to bridge Web2 and Web3, jointly exploring how digital currencies can be utilized in payments to make Web3 services more accessible and user-friendly for both individuals and enterprises.'

Comment from Gang Li, President and CEO of NetStars Co., Ltd.

'We are delighted that Startale Group has signed the MOU and endorsed our 'StarPay-X' vision. Collaborating with a company that is actively engaged in Web3, including JPYSC, significantly broadens our strategic horizons. This MOU will serve as a catalyst to advance our discussions on Web3 adoption, including the concept of multi-coin payments.'

Company Overview

Startale Group

Startale Group is a global company with the mission of 'creating the foundation of the next civilization by bringing the world on-chain.' Through blockchain development supporting tokenized asset issuance and circulation in collaboration with the SBI Group, as well as stablecoin issuance and implementation, and blockchain initiatives with the Sony Group, Startale is driving the construction of finance and entertainment infrastructure for the blockchain era.

NetStars Co., Ltd.

A payment service provider offering an integrated suite of solutions centered on the multi-cashless payment platform 'StarPay,' including QR code payments, various electronic payment methods, and accompanying DX services. The company provides a unified system enabling merchants to easily adopt and manage diverse domestic and international payment methods, contributing to improved merchant convenience and the advancement of a cashless society.