A host of blockchain-based tools will be offered by SBI Group and Chainlink, starting in Japan and then the Asia-Pacific under a new partnership, which is aimed at financial institutions.
A partnership has been formed by Japanese finance conglomerate SBI Group with the blockchain oracle platform Chainlink to create crypto tools for Asia’s financial institutions.
It was said by SBI on Sunday that a collaboration with Chainlink will have a focus on “a number of key use cases for financial institutions in Japan and the APAC [Asia-Pacific] region,” with initial attention being placed on Japan’s market.
Tools to allow for cross-blockchain tokenized real-world assets (RWAs), such as onchain bonds, will be looked at by the pair, and Chainlink’s technology will be used to give onchain verification for stablecoin reserves, among other plans.
The fourth crypto partnership for SBI Group in the past few days is marked by it after tie-ups were announced on Friday with stablecoin issuer Circle Internet Group, crypto firm Ripple Labs, and the Web3 infrastructure firm Startale.
Chainlink to Support Financial Technology with Its Protocols
It was added by SBI that its deal with Chainlink would see the firm using its flagship blockchain interoperability protocol for a host of use cases, including the tokenization of RWAs and helping to facilitate foreign exchange and cross-border transactions.
“I am excited to see our great work move towards a state of production usage at a large scale,” said Chainlink co-founder Sergey Nazarov, adding that his firm has long been helping SBI build stablecoin settlement use cases and “very advanced fund tokenization.”
It was also said by the pair that Chainlink’s data feed tools would be used to “bring net asset value (NAV) data onchain for tokenized funds.”
It was said by SBI Holdings chair, president, and CEO Yoshitaka Kitao that the two companies would also be working on “powering compliant cross-border transactions using stablecoins, that accelerate the widespread adoption of digital assets in Japan and the region.”
Japan’s Financial Services Agency (FSA) is set to have a Japanese yen stablecoin approved for the first time as early as next month, with the fintech firm JPYC leading the rollout, according to local media reports earlier this month.
SBI Group to Promote Stablecoins Through New Deals with Circle and Ripple
The other crypto partnerships of SBI Group will see it promoting Circle’s USDC and Ripple’s Ripple USD (RLUSD) stablecoins.
Ripple’s stablecoin is aimed to be made available by the company’s crypto subsidiary SBI VC Trade during the fiscal year that ends in March 2026, while the use of USDC in Japan will be promoted by SBI.
Meanwhile, with Startale, it was said by SBI that an onchain trading platform for tokenized stocks and RWAs would be built to enable 24/7 trading, copying the likes of Kraken and Robinhood, which have launched 24/7 tokenized trading platforms.
