SBI Group partners with Ondo Finance to tokenize Japanese stocks using yen stablecoin
Stocks
SBI Group and Ondo Finance have partnered to tokenize Japanese equities, marking a significant integration of traditional Asian capital markets with onchain infrastructure. Under the agreement, Ondo Global Markets (BVI) Limited will manage the issuance of tokenized assets, which will be distributed through SBI’s extensive financial ecosystem. Transactions will be settled using JPYSC, a yen-denominated stablecoin launched by SBI Shinsei Trust Bank on June 24 with ¥10 billion in initial capital. Operating on the Ethereum blockchain, JPYSC serves as a critical payment and collateral mechanism for these digital assets. This collaboration aims to eliminate traditional settlement frictions, such as T+2 timelines and complex currency conversions, for both domestic and international investors. By leveraging SBI’s regulatory standing and Ondo’s tokenization expertise, the partnership seeks to create a global corridor for digital assets. This move represents a major step in institutionalizing onchain finance within one of the world's most advanced financial markets.
Key points
- ▸SBI Group and Ondo Finance partner to tokenize Japanese equities on the Ethereum blockchain.
- ▸SBI Shinsei Trust Bank issued JPYSC, a yen-backed stablecoin with ¥10 billion initial capital.
- ▸The partnership aims to replace traditional T+2 settlement cycles with instant onchain transaction rails.
- ▸Ondo Global Markets (BVI) Limited will handle the issuance of the tokenized Japanese assets.
Background
Ondo Finance is a prominent protocol specializing in the tokenization of real-world assets, previously gaining significant traction by bringing U.S. Treasury yields onchain. SBI Group is a major Japanese financial conglomerate that operates across banking, securities, and insurance, actively investing in blockchain infrastructure to modernize traditional financial services.
Relevance
9/10