SBI and Ondo Finance Collaborate to Tokenize Japanese Financial Assets

SBI Holdings and Ondo Finance have initiated a strategic partnership to explore the tokenization of Japanese financial assets, including equities, on blockchain platforms.

Announced on July 16, this collaboration aims to develop infrastructure for on-chain settlement of Japanese assets, with potential use of SBI’s JPYSC stablecoin for transactions and collateral management.

SBI Holdings and Ondo Finance: Pioneering On-Chain Japanese Asset Tokenization

The partnership will enable SBI to tokenize Japanese stocks and financial instruments for Ondo’s platform, while Ondo’s existing tokenized products will be integrated into SBI Group’s ecosystem. This mutual integration enhances both parties’ offerings in real-world asset tokenization.

The initiative will prioritize the application of JPYSC, SBI’s trust-backed yen stablecoin, which launched in June 2026 as Japan’s first regulated stablecoin with unlimited transfer capacity. JPYSC is now accessible via SBI VC Trade and supports yen-denominated on-chain operations.

Ondo Finance, with its multi-chain tokenization infrastructure and $3.6 billion TVL, recently launched SEC-compliant tokenized securities on Ethereum, including a BlackRock S&P 500 ETF and Micron shares, via third-party custody solutions.

Alignment with Japan’s Tokenization Strategy

Japan’s mature capital markets are attracting international interest in tokenized assets. SBI highlighted that improved on-chain infrastructure and yen settlement solutions are critical to expanding foreign investor access to Japanese equities.

Details on specific products, regions, and timelines will be shaped by regulatory frameworks, as both firms emphasized compliance-driven development.

Strategic Implications

This collaboration expands Ondo Finance’s presence into Japan’s equity markets while enabling SBI to leverage Ondo’s U.S. asset tokenization expertise. The partnership positions SBI as a key player in Japan’s blockchain finance sector and broadens its stablecoin’s utility through real-world asset applications.

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