Japanese financial giant SBI Holdings has partnered with Ondo Finance to tokenize Japanese stocks, extending its on-chain finance initiative. The deal will use the JPYSC stablecoin for settlement and collateral while distributing Ondo products through SBIs extensive network.
The partnership marks another significant step in the integration of traditional Japanese finance with blockchain technology. SBI has been one of the most active traditional financial institutions in the crypto space, with investments and partnerships spanning custody, trading, and now asset tokenization.
Under the agreement, SBI will use the JPYSC yen-denominated stablecoin for settlement and collateral purposes, while Ondo Finance will provide the technology infrastructure for tokenizing Japanese equities. Ondo products will be distributed through SBIs network, which includes millions of retail investors and institutional clients.
The deal is part of a broader push by Japanese financial institutions into digital assets. Japans parliament recently passed a major crypto overhaul that reclassifies digital assets as financial products, laying the groundwork for lower taxes and future spot Bitcoin ETFs. SBI has been at the forefront of this shift, having previously partnered with Solana for real-world asset tokenization and with XRP for lending infrastructure.
Ondo Finance, which focuses on tokenized real-world assets, has seen its ONDO token rally on the news. The tokenized asset market has been expanding rapidly, with global tokenized assets under management now exceeding $60 billion across various blockchain platforms.
This article was adapted from The Block. Read the original here.
