SBI Group, one of Japan’s largest financial conglomerates with assets exceeding $200 billion, has formed a strategic partnership with blockchain oracle provider Chainlink to speed institutional adoption of digital assets in Japan and other key markets
SBI Group, one of Japan’s largest financial conglomerates with assets exceeding $200 billion, has formed a strategic partnership with blockchain oracle provider Chainlink to speed institutional adoption of digital assets in Japan and other key markets.
The collaboration will apply Chainlink’s Cross-Chain Interoperability Protocol, SmartData and Proof of Reserve services to enable cross-chain transfers of tokenized real-world assets such as real estate and bonds, bring on-chain net-asset-value data for tokenized funds, and provide transparent reserve reporting for regulated stablecoins.
SBI Holdings chair and chief executive Yoshitaka Kitao said the two companies will also work on “powering compliant cross-border transactions using stablecoins,” aiming to remove frictions that have so far limited broader institutional participation. Chainlink co-founder Sergey Nazarov added that the partnership moves earlier pilot projects toward large-scale production use.
The initiative starts in the Japanese market and is expected to extend across the Asia-Pacific region, building on SBI’s existing digital asset ecosystem and Chainlink’s infrastructure, which is already integrated by financial institutions including Swift, UBS and Euroclear.
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Source: https://thedefiant.io/news/tradfi-and-fintech/sbi-group-taps-chainlink-to-tokenize-real-world-assets-japan-ec3662c1