Summary
SBI Group is executing a multi-pronged tokenization strategy across Japanese equities, using its trust bank-backed JPYSC stablecoin as the settlement layer. The Ondo Finance partnership (tokenized Japanese stocks) follows the DigiFT collaboration (tokenized Japanese equity fund on Solana) and the SBI-DigiFT-Startale PoC (JPYSC-powered settlement and dividend distribution).
Key Points
- Ondo Finance partnership: tokenize Japanese equities; JPYSC for settlement and collateral; distribution through SBI ecosystem
- DigiFT collaboration: JX token — tokenized SBI Japan High Dividend Equity Fund ($1.3B AUM) on Solana
- SBI-DigiFT-Startale PoC: JPYSC-powered instant settlement and automated onchain dividend distribution (Ethereum testnet)
- JPYSC: Japan's first trust bank-backed yen stablecoin; launched June 24, 2026; issued by SBI Shinsei Trust Bank; ¥10B initial capital
- SBI ecosystem: $238B+ total assets; securities, asset management, banking, insurance
- SBI Securities: one of Japan's largest online brokerages — millions of retail investors
- Chainlink partnership (2025): bringing traditional assets onchain
- Startale investment: blockchain infrastructure; co-develops Soneium with Sony
- Future plans: integrate with Morpho and Gauntlet for lending, collateralization, onchain asset management
- Regulatory advantage: Japan's FSA provides clear licensing framework for trust bank-backed stablecoins
- Key differentiator: yen-denominated settlement removes FX friction for Japanese investors