SBI Group has partnered with Ondo Finance to tokenize Japanese stocks and use its yen-backed JPYSC stablecoin for settlement and collateral. The deal aims to connect Japanese assets with international markets for tokenized securities, leveraging SBI's extensive customer network.
Partnership details
Ondo Global Markets (BVI) Limited will issue tokenized financial products linked to Japan, which SBI will distribute through its financial platforms and introduce to its existing customers. The two companies will also conduct joint marketing and explore distribution through strategic partners. No launch date, first assets, or regulatory structure have been disclosed yet.
JPYSC stablecoin integration
JPYSC, a stablecoin backed by the Japanese yen, will support settlement and collateral for Ondo's tokenized products. This could allow investors to settle purchases of tokenized Japanese assets with a yen-denominated digital currency. The companies also plan to explore its use as collateral, though details on eligible products and requirements remain unspecified.
Strategic significance
Ondo Finance CEO Ian De Bode called Japan "one of the most sophisticated capital markets in the world" and said SBI sits at its center. SBI Chairman Yoshitaka Kitao described Ondo as a potential long-term partner as the group builds a global corridor for digital assets. The partnership follows SBI's launch of a tokenized Japanese equity fund on Solana in July, the JX token, which gives accredited investors blockchain-based access to a high-dividend equity strategy.
Onchain equities pipeline
The Ondo agreement covers tokenized financial products, distribution through SBI's ecosystem, and JPYSC integration, while the JX token focuses on a managed equity strategy for qualified investors. Together, these initiatives show SBI is testing separate routes for bringing Japanese securities and yen-based settlement onto public blockchain networks.