Key facts
- SBI Group and Ondo Finance have partnered to advance tokenized finance in Japan.
- The collaboration will focus on bringing Japanese stocks onto the blockchain.
- SBI's JPYSC stablecoin will be utilized for settlement and collateral of tokenized assets.
- Ondo Global Markets (BVI) Limited will issue tokenized financial products from Japan.
- The partnership aims to increase accessibility of tokenized assets to millions of investors.
SBI Group, a long-standing partner of Ripple, has entered into a strategic alliance with Ondo Finance to bolster the growth of tokenized finance within Japan. This collaboration is set to concentrate on integrating Japanese stocks onto the blockchain and expanding the utility of SBI's JPYSC stablecoin.
Under the agreement, SBI Group will introduce Ondo financial products within its own financial ecosystem. A key aspect of the partnership involves supporting the JPYSC stablecoin for settlement and collateral purposes. The initiative targets one of the world's major capital markets, aiming to link Japanese financial assets to the burgeoning global market for tokenized securities. The companies plan to leverage SBI's extensive customer network to make these products accessible to millions of investors.
Ondo Global Markets (BVI) Limited will be responsible for issuing tokenized financial products originating from Japan, which will be offered through SBI Group. Joint marketing efforts are also planned to promote these products to existing customers and through strategic partnerships.
Ondo Finance CEO Ian De Bode emphasized Japan's significance in the digital asset sector, stating, "Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain and to connect Japan with the global tokenized economy." SBI Group Chairman, President, and CEO Yoshitaka Kitao added, "We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets, and we look forward to rapidly advancing a wide range of initiatives together."
The partnership also revitalizes SBI's JPYSC stablecoin, which is expected to be used for settling and collateralizing Ondo's tokenized assets, signaling SBI's increased commitment to digital assets and its objective of enhancing global investor access to Japanese assets through tokenization.