Japan's financial group SBI Group has partnered with the blockchain oracle platform Chainlink to create a series of crypto tools for financial institutions in Asia.
SBI stated that its collaboration with Chainlink will focus on "some key use cases for financial institutions in Japan and the Asia-Pacific region," with an initial emphasis on the Japanese market.
The two parties will explore tools that allow for the tokenization of real-world assets (RWAs) across blockchains, such as on-chain bonds, and utilize Chainlink's technology for on-chain verification of stablecoin reserves.
This marks the fourth crypto collaboration announced by SBI Group in recent days. Previously, the group disclosed on Friday that it had partnered with stablecoin issuer Circle Internet Group, crypto company Ripple Labs, and Web3 infrastructure company Startale.
SBI Group further stated that the collaboration with Chainlink will drive the application of its flagship blockchain interoperability protocol in multiple scenarios, including the tokenization of real-world assets (RWAs) and facilitating foreign exchange and cross-border transactions.
Chainlink co-founder Sergey Nazarov expressed his excitement about the collaboration moving towards large-scale production applications. He added that Chainlink has long supported SBI Group in building stablecoin settlement use cases and highly advanced fund tokenization.
Both parties also stated that they will utilize Chainlink's data source tools to achieve on-chain net asset value (NAV) data and plan to provide on-chain verification tools for stablecoin reserves.
SBI Holdings Chairman, President, and CEO Yoshitaka Kitao stated that the two sides will also collaborate to promote compliant cross-border transactions based on stablecoins, accelerating the adoption of digital assets in Japan and the Asia-Pacific region.
According to Japanese media reports earlier this month, the Financial Services Agency (FSA) of Japan is expected to approve the issuance of yen stablecoins as early as next month, led by fintech company JPYC.
Other crypto collaborations by SBI Group will promote Circle's USDC (USDC) and Ripple's issued Ripple USD (RLUSD) stablecoins.
The group's crypto subsidiary, SBI VC Trade, plans to launch Ripple's stablecoin within the fiscal year ending March 2026. At the same time, SBI Group will also promote the application of USDC in Japan.
Additionally, SBI Group is collaborating with Startale to build a round-the-clock trading platform that supports on-chain stocks and real-world assets, enabling 24/7 uninterrupted trading, drawing inspiration from all-weather tokenized trading platforms launched by companies like Kraken and Robinhood.
The specific launch time and the blockchain network used for the platform have not yet been disclosed. Startale CEO Sota Watanabe told Cointelegraph on Friday that they are "not yet ready to disclose the technical architecture."
Related: Fed comments drive Bitcoin (BTC) and Ethereum (ETH) surge, cryptocurrency sentiment returns to greed
Original article: “SBI Group Partners with Chainlink to Bring Crypto Technology to the Asian Financial Sector”
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