Ondo Finance partners with SBI Group to tokenize Japanese equities onchain.
RWA & Tokenization ·
Ondo Finance and SBI Group have announced a strategic partnership to tokenize Japanese equities and list them onchain. Under the arrangement, Ondo will issue tokenized instruments through its subsidiary Ondo Global Markets (BVI) Limited, with SBI distributing these products across its financial ecosystem. The partnership also calls for using SBI's JPYSC stablecoin for settlement and collateral backing the tokenized assets, alongside cross-promotion of both parties' offerings to their respective customer bases and strategic partners.
The deal aims to connect Japan's capital markets with the broader tokenized economy and expand onchain access to Japanese assets for international investors. Both companies intend to build what they describe as a bridge between Japan's markets and the global digital asset ecosystem, with an eye toward enabling yen-denominated settlement mechanisms onchain. Yoshitaka Kitao, representative director, chairman, president and CEO of SBI Holdings, characterized Ondo as a key strategic partner in SBI Group's effort to develop a global corridor for digital assets.
Neither company has specified timelines for launching tokenized Japanese equities, the initial asset class composition, or regulatory approvals required in Japan to execute the arrangement.