SBI Bets on RWA! Partners with Ondo to Promote Tokenization of Japanese Stocks and Introduce Yen Stablecoin Settlement

Author: Ariel, Crypto City

SBI and Ondo Officially Collaborate, Taking a Key Step in Tokenization of Japanese Stocks

Japanese financial giant SBI Holdings announced on July 16 that it has reached a strategic partnership with the U.S. RWA tokenization platform Ondo Finance. The two parties plan to tokenize Japanese stocks and other assets, integrating Ondo's on-chain platform while distributing Ondo's tokenized products within the SBI ecosystem.

Ondo Finance stated that the purpose of this collaboration is to connect one of the world's most mature capital markets with the tokenized economy. New CEO Ian De Bode pointed out that Japan has a large and mature capital market, and SBI Group is at its core, making this collaboration a pathway for Japanese assets to go on-chain.

SBI Holdings President Yoshitaka Kitao also noted that Ondo Finance has established a leading global position in the tokenized asset and tokenized stock markets. Ondo Finance will become an important strategic partner for SBI Group in building a global digital asset corridor, and both sides will rapidly advance various initiatives.

Introducing Trust-Based Yen Stablecoin, JPYSC as Core for Transactions and Collateral

Under this collaboration framework, both parties plan to use the trust-based yen stablecoin JPYSC developed by SBI Group as the on-chain settlement and collateral tool for tokenized asset transactions.

JPYSC was co-developed by SBI Group and blockchain startup Startale Group (backed by Sony and SBI), and was first issued on June 24 this year, making it the first yen stablecoin in Japan to adopt a trust-based mechanism.

Japan's Fund Settlement Law has clear legal classifications for stablecoins. The common yen stablecoin JPYC is the first electronic payment tool issued by money transfer operators, suitable for real-time transactions on public chains, targeting individuals and Web3 developers.

In contrast, JPYSC is the third electronic payment tool issued by trust banks. Due to its trust-based design, JPYSC has no upper limit on the amount for issuance and redemption, making it particularly suitable for large settlements and collateral for corporate and institutional investors.

SBI's Comprehensive Layout in On-Chain Finance, Ondo Leading Tokenization Market Expansion

This collaboration with Ondo Finance is the latest move in SBI Group's active layout in the on-chain finance sector.

In the past month, SBI has become the sole investor in the financial risk custody platform Gauntlet's $125 million Series C funding round and the $75 million Series C funding round of crypto trading platform EDX Markets, and in June of this year, it acquired the Japanese exchange Bitbank for nearly $289 million, while also collaborating with the Solana Foundation to jointly build an on-chain financial market in Japan.

This collaboration also aligns with the rapid growth trend of global asset tokenization. According to data from Ondo's official website, Ondo Finance currently supports 12 blockchains, with a locked value of approximately $3.6 billion, leading in the realm of real-world assets.

After announcing the collaboration, specific service content, target customers, regions offered, and launch times will be gradually disclosed in compliance with relevant laws and regulatory procedures. SBI and Ondo Finance will strive to build a bridge connecting the Japanese capital market with the global tokenized economy for investors worldwide.

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