TL;DR:
- SBI Holdings announced a partnership with Ondo Finance to tokenize Japanese equities and distribute its products through its network.
- The company will use its JPYSC stablecoin for settlement and collateral within the onchain financial markets ecosystem.
- Tokenized equities represent around 15% of the total tokenized asset market, with a market cap of nearly $13 billion.
SBI Holdings announced a partnership with Ondo Finance to tokenize Japanese equities through Ondo Global Markets. The Japanese financial conglomerate aims to build an institutional-grade onchain financial ecosystem.
According to the joint statement, the collaboration includes the distribution of Ondo’s products through SBI’s network and the use of the JPYSC stablecoin for settlement and collateral.
SBI Accelerates its Expansion
The agreement is part of a series of digital asset initiatives the firm has notably deepened over the past month. SBI became the sole investor in Gauntlet‘s Series C round of $125 million and in EDX Markets‘ round of $75 million. It also launched JPYSC, the first yen-backed stablecoin supported by a trust bank in Japan, announced a lending product for the token, and signed a partnership with the Solana Foundation to develop an onchain financial market based in Japan. In June, it also acquired the cryptocurrency exchange Bitbank for nearly $289 million.
The Core of Japan’s Capital Market and the Tokenized Economy
Ian De Bode, CEO of Ondo Finance, highlighted that Japan has one of the most sophisticated capital markets in the world and that SBI holds a central place within it. “This collaboration creates a path to bring Japanese assets onchain and connect Japan to the global tokenized economy,” he stated in a press release. For his part, Yoshitaka Kitao, CEO of SBI, affirmed that Ondo has established itself as a reference in tokenized real-world assets and will be a key strategic partner in the company’s global digital asset ecosystem expansion.
The tokenized equities market registers a market cap approaching $13 billion and represents around 15% of the total tokenized asset market. Asset-backed credit and U.S. Treasury bonds remain the dominant categories of the sector, although the entry of major conglomerates suggests that tokenized equity markets are growing very consistently.
