In an exclusive Coindoo interview, Maarten Henskens, COO of Startale Group and Head of Astar Foundation, explains how Japan is setting the standard for blockchain innovation, tokenized finance, and compliant Web3 infrastructure.
Building Japan’s Blockchain Backbone
Japan’s digital transformation is accelerating, and at the heart of it stands Astar Foundation and Startale Group, two organizations driving the nation’s Web3 evolution.
While Astar focuses on community, interoperability, and decentralized applications, Startale Group – its parent company – builds the infrastructure, enterprise solutions, and strategic partnerships to bring those ideas to life.
The synergy extends to Sony Block Solutions Labs, a joint venture between Startale and Sony designed to make Web3 accessible for everyday users. From this collaboration came Soneium, an Ethereum Layer-2 developed by Sony Block Solutions Labs to connect entertainment, gaming, and blockchain.
As COO of Startale Group and Head of Astar Foundation, Henskens oversees how these initiatives come together – from technical development to adoption across Japan and international markets.
From Ideals to Infrastructure
Before joining Astar, Henskens was fascinated by blockchain’s potential to rebuild trust in the digital economy. “I believed real user demand would come from applications, not hype,” he says.
Astar’s appeal lay in its pragmatic vision – a combination of Polkadot’s cross-chain paradigm, EVM/WASM compatibility, and developer incentives to create sustainable, scalable systems.
“Astar positioned itself not just as a network but as an ecosystem builder,” he explains. “That move enabled interoperability – something critical for Japan’s future in Web3.”
Henskens adds that Astar’s evolution included rethinking tokenomics to reduce speculative pressure, align incentives with real usage, and reward meaningful engagement through mechanisms such as fee burning and staking.
“What attracted me wasn’t the audacity of the vision but the discipline to build it sustainably,” he says. “Astar wasn’t about raising capital or gaining attention; it was about building a long-term model where infrastructure, developers, and users grow together.”
New Leadership, New Momentum
Japan’s blockchain future is getting a further boost under the leadership of Prime Minister Sanae Takaichi. According to Henskens, her administration reinforces Japan’s pro-innovation stance and commitment to treating blockchain as a core pillar of national digital transformation.
“A supportive monetary outlook could sustain liquidity and investor appetite for alternative assets, including crypto,” he notes. “For us, it’s a strong environment to advance Japan’s Web3 ecosystem, connecting regulated institutions with global onchain markets.”
From tokenized assets to compliant stablecoins, this policy direction strengthens the foundation that Astar and Startale have been helping to build.
Turning Digital Strategy Into Reality
Japan’s digital transformation is shifting from planning to execution. Through Startale Group’s joint venture with SBI Holdings, the companies are constructing Japan’s first onchain trading and settlement platform for tokenized stocks and real-world assets.
? ? BREAKING: Startale Group and SBI Holdings are joining forces to launch a revolutionary onchain trading platform for crypto, tokenized stocks and real-world assets (RWAs).
? This partnership combines robust blockchain technology with decades of financial market expertise,… pic.twitter.com/dAIsigWjUf
— Startale ? (@StartaleGroup) August 22, 2025
“This isn’t a pilot,” says Henskens. “It’s infrastructure trusted by one of Japan’s largest financial groups.”
The collaboration also extends to the Bank of Japan’s CBDC Forum, local governments, and advisory panels. Startale’s approach is deeply collaborative: “Japan builds by co-creation – regulation through real use cases,” he explains. “From Astar’s perspective, it’s about laying the foundations for compliant infrastructure that Japan’s institutions can trust.”
Tokenization and Japan’s Financial Future
One of Startale’s key roles lies in shaping Japan’s national tokenization strategy, powered by partnerships with Sony and SBI Holdings.
“With Sony, through Soneium, we’re creating a general-purpose blockchain platform that brings Web3 to life for entertainment and gaming audiences – not just developers or institutions,” says Henskens.
Meanwhile, the SBI partnership focuses on tokenized U.S. and Japanese equities with institutional-grade custody, real-time compliance monitoring, and near-instant settlement. While equities are the starting point, the platform is designed to expand into real estate, bonds, and other tokenized assets as regulations mature.
“These initiatives show how Japan can turn regulatory clarity into global opportunity,” he explains. “Tokenization connects traditional finance with open, verifiable systems.”
Which Sectors Are Ready for Tokenization?
Henskens believes finance is leading the way. “That’s why our SBI partnership focuses first on tokenized equities,” he says. “The financial sector already has clear regulatory frameworks and immediate use cases.”
However, he also highlights entertainment and creator economies as equally ready sectors. Through Soneium, Startale is enabling fan engagement with tokenized loyalty programs, creator protection, and sustainable onchain gaming models.
“Projects like Legends of Venari are building healthy onchain economies that avoid the speculation which undermined early GameFi,” he notes.
Stablecoins and the Compliance Advantage
Startale Group is also advancing Japan’s compliant stablecoin framework, following amendments to the Payment Services Act in 2023, which officially recognized stablecoins as legal payment instruments.
“Through our work with Astar, we provide the technical backbone that enables banks and trust institutions to issue and use stablecoins under Japan’s legal framework,” Henskens explains.
He emphasizes that this framework isn’t just technical but also about trust. “It’s not just about building stablecoin infrastructure; it’s about building confidence.”
While the U.S. and Europe still debate stablecoin policy, Japan already has clear guidelines. “Japan offers clarity that few markets can match,” Henskens says. “It’s a high-compliance environment – not a sandbox. But it’s exactly what institutions need.”
He sums it up succinctly: “Japan isn’t a sandbox – it’s a blueprint.”
Setting Global Standards Through Collaboration
Japan’s cautious yet progressive regulatory reputation is well-earned, and Astar and Startale are helping to shape its global influence.
“We’re delivering decentralized infrastructure that meets institutional requirements,” says Henskens. “We participate in government advisory panels and collaborate with the Bank of Japan’s CBDC Forum to show how regulation can evolve through proven use cases.”
Startale’s CEO, Sota Watanabe, also serves as a director of the Japan Blockchain Association, maintaining active engagement with policymakers and ensuring regulatory alignment with innovation.
Beyond Japan, Startale engages in international discussions on tokenization standards, especially across Asia and Europe, monitoring frameworks like Japan’s FIEA and Europe’s MiCA.
“The goal isn’t uniform regulation,” Henskens explains. “It’s mutual understanding – enabling tokenized assets to move compliantly across borders.”
The Next Chapter for Astar
Looking ahead, Astar’s next phase is focused on execution. The Foundation’s immediate priorities include finalizing the Burndrop framework, a mechanism designed to align incentives by combining token burning and community rewards.
The upcoming Tokenomics 3.0 overhaul introduces a fixed maximum supply of approximately 10.5 billion ASTR, shifting from dynamic inflation to emission decay and fairer fee distribution.
In parallel, Astar continues expanding interoperability through bridges and cross-chain collaborations, ensuring that ASTR’s utility grows across ecosystems.
“Our goal is to diversify ASTR’s use cases and strengthen composability across networks,” Henskens says.
Bridging Traditional Finance and Onchain Systems
As Japan deepens integration between traditional finance and decentralized infrastructure, Astar aims to serve as the bridge connecting both worlds.
“Astar will provide the institutional-grade foundation that allows this transition while maintaining compliance and security,” Henskens emphasizes. “We’re ensuring that the movement of traditional finance into onchain environments happens safely and efficiently.”
A New Era for Japan’s Digital Economy
What excites Henskens most about Japan’s Web3 journey is the convergence of media, entertainment, and finance.
“Web3 becomes tangible when it reaches everyday users,” he says. “That’s where Japan leads – by turning innovation into experience.”
Through partnerships with Sony, SBI, and others, Astar and Startale are building templates for global adoption – creating a roadmap where compliance and creativity coexist.
“As we bridge East and West through Japan’s enterprise ecosystem and global blockchain protocols,” he concludes, “we’re creating infrastructure that will serve billions of users worldwide. The journey has just begun. The mission now is to build the next civilization – by bringing the world onchain.”
