Japanese financial giant SBI Group has unveiled a strategic partnership with Ondo Finance to bring Japanese equities onto blockchain networks, marking one of the most significant moves yet to connect Japan’s traditional capital markets with the growing tokenised asset ecosystem.
Under the agreement, the companies plan to tokenise Japanese financial assets, distribute Ondo’s tokenised investment products across SBI’s extensive financial network, and utilise SBI’s JPYSC stablecoin for settlement and collateral purposes.
The partnership brings together Ondo Finance, which has emerged as one of the world’s largest tokenisers of financial assets, and SBI Group, one of Japan’s largest financial conglomerates with operations spanning securities, banking, asset management and digital assets.
“We believe this collaboration creates a path to bring Japanese assets on-chain and to connect Japan with the global tokenised economy,” said Ian De Bode, Chief Executive Officer of Ondo Finance, highlighting Japan’s status as one of the world’s most sophisticated capital markets.
Opening Japanese Markets to Global Blockchain Investors
A central component of the partnership involves the tokenisation and distribution of Japanese assets through Ondo Global Markets (BVI) Limited, enabling investors to gain blockchain-based exposure to Japanese equities and other financial instruments.
While the companies did not disclose a timeline or specify which assets will be tokenised first, the initiative could pave the way for broader access to Japanese securities among global investors operating within digital asset markets.
The move comes as financial institutions worldwide increasingly explore tokenisation — the process of representing traditional assets such as stocks, bonds or real estate as blockchain-based tokens that can be traded and settled digitally.
JPYSC Stablecoin to Power Settlement
The agreement also calls for the adoption of SBI’s JPYSC stablecoin as a settlement and collateral asset for Ondo’s tokenised products.
Using a yen-denominated stablecoin could provide a key piece of infrastructure for on-chain financial markets linked to Japanese assets, potentially reducing settlement friction and creating a foundation for blockchain-based capital markets denominated in Japan’s currency.
Industry observers have increasingly pointed to stablecoins as a critical component of tokenised financial ecosystems, providing investors with a digital cash equivalent for trading, collateral management and settlement.
Distribution Through SBI’s Financial Ecosystem
Another pillar of the partnership involves the distribution of Ondo’s tokenised products through the SBI Group ecosystem. SBI maintains one of Japan’s largest retail and institutional financial networks, giving Ondo potential access to millions of investors.
The companies also said they will pursue cross-promotion of products and services through their respective customer bases, distribution channels and strategic partnerships.
For SBI, the deal strengthens its ambitions in digital assets and blockchain-based finance. The company has been an active participant in the cryptocurrency and tokenisation sectors through various subsidiaries and investments.
“Ondo Finance has established itself as a global leader in the tokenisation of real-world assets and is at the forefront of the tokenised equities market,” said Yoshitaka Kitao, Chairman, President and CEO of SBI Holdings. He described Ondo as a key strategic partner as SBI develops a global digital asset corridor and expands its blockchain-based financial ecosystem.
Growing Momentum for Tokenised Assets
The partnership reflects accelerating institutional interest in real-world asset (RWA) tokenisation, one of the fastest-growing sectors in digital finance. Financial institutions and blockchain firms are increasingly exploring ways to bring traditional securities on-chain, with proponents arguing that tokenisation can improve market accessibility, settlement efficiency and global liquidity.
Japan, long regarded as one of Asia’s most technologically advanced financial markets, is viewed by many industry participants as a promising venue for tokenised securities. SBI’s established position within the country’s financial system gives the initiative significant credibility as institutions seek practical applications for blockchain technology.
By combining SBI’s distribution power and market presence with Ondo’s tokenisation infrastructure, the companies aim to create a bridge between Japan’s traditional financial markets and the emerging global tokenised economy.
If successful, the partnership could expand access to Japanese assets for investors worldwide while helping establish the foundations for yen-denominated settlement and collateral systems in blockchain-based financial markets. For both companies, the deal represents a step toward a future in which traditional securities and digital assets increasingly operate side by side on shared financial infrastructure.
