TLDR:
- SBI Shinsei Bank partners with Partior and DeCurret DCP to explore cross-border payments using tokenized deposits and DLT.
- The study includes DCJPY tokenized deposits and expands to multiple foreign currencies for real-time clearing and settlement.
- Partior’s platform already serves DBS, J.P. Morgan, Standard Chartered, and Deutsche Bank for multi-currency settlement.
- The collaboration aims to provide 24/7 availability, transparency, and faster settlement for corporate and retail customers.
SBI Shinsei Bank is taking its next step in digital banking. The Japanese bank has joined Partior and DeCurret DCP to explore tokenized deposit settlement for multiple currencies. The three firms signed a Memorandum of Understanding and plan to start a full-scale study.
The initiative aims to speed up cross-border transactions and provide around-the-clock clearing solutions. It could also offer new options to businesses and retail customers using DCJPY and other tokenized currencies.
SBI Shinsei Bank Crypto Settlement Plan Moves Ahead
According to the press release, the partnership will focus on building a framework for clearing and settlement using tokenized deposits. SBI Shinsei Bank brings its wide client base to the project. DeCurret DCP operates DCJPY, a platform already supporting JPY-denominated tokenized deposits.
Partior’s settlement platform is central to this plan. The Singapore-based firm supports USD, EUR, SGD, and is used by global institutions such as DBS, J.P. Morgan, and Deutsche Bank. Adding JPY could expand its reach and open new corridors for Japanese banks.
The study will also examine how tokenized deposits can connect with foreign currencies. The partners aim to create a system that works across multiple jurisdictions. This could reduce friction and make settlement faster compared to traditional banking rails.
The goal is a seamless process for both corporate and retail users. The collaboration expects to deliver improved transparency and faster access to funds across time zones.
Next Steps for Tokenized Payments
The three companies will begin detailed discussions on their roles in the project. They aim to sign a formal agreement once the framework is ready. The study could pave the way for a pilot launch covering JPY and foreign currencies.
DeCurret DCP’s role will be to connect its JPY tokenized deposits with Partior’s network. This could allow near real-time exchange between JPY and other currencies. SBI Shinsei Bank would then provide these services to its customers as part of its digital offerings.
Partior is expected to expand its supported currencies with JPY integration. This may improve settlement options for its existing banking partners. The move would bring Japan into a growing network of tokenized payment solutions being tested globally.
The collaboration could mark a step toward faster and more efficient cross-border settlement. It may also encourage other banks to explore similar tokenized solutions.
The post Japan’s SBI Shinsei Bank Sets Sights on 24/7 Tokenized Payments Study appeared first on Blockonomi.
Source: https://blockonomi.com/japans-sbi-shinsei-bank-sets-sights-on-24-7-tokenized-payments-study/