Ondo Finance, SBI Partner To Bring Japanese Equities Onchain

Key Insights:

• Ondo Finance and Japan's $250B SBI Group will tokenize Japanese equities and other real world assets.
• The partnership will use SBI's JPYSC stablecoin for settlement and collateral on tokenized assets.
• Ondo currently controls around 60% of the tokenized equity market, reinforcing its leadership in the RWA sector.

Ondo Finance, a well-known DeFi platform, has partnered with Japan's financial giant SBI Group to bring Japanese equities onchain. The collaboration will introduce yen based settlement using the JPYSC stablecoin, distribute tokenized assets across SBI's ecosystem, and connect Japan's capital markets with the rapidly growing real world asset (RWA) economy.

SBI and Ondo Plan to Tokenize Japanese Assets

Under the agreement, the companies will tokenize Japanese equities through Ondo Global Markets (BVI) Limited. These blockchain based assets will then be distributed across SBI's financial ecosystem, giving millions of Japanese investors easier access to tokenized investment products.

The partnership will also use SBI's JPYSC stablecoin to settle transactions and manage collateral for tokenized assets. This creates a complete onchain settlement process using a yen backed digital currency instead of relying on traditional banking rails.

In addition, both companies plan to promote each other's products and services through their customer networks and strategic partners, expanding the reach of tokenized financial products in Japan.

Why SBI Chose Ondo Finance

SBI chose Ondo because of its experience in bringing traditional financial assets onto blockchain networks. While many crypto projects mainly focus on digital assets, Ondo has built infrastructure specifically for tokenized securities and institutional investors.

The company already offers tokenized U.S. Treasury products and other yield-generating assets that are designed for institutional use. More recently, Ondo expanded into tokenized equities through Ondo Global Markets, allowing investors to access blockchain-based stocks around the clock.

Commenting on the partnership, Yoshitaka Kitao, president and CEO of SBI Holdings, said

“Ondo has established itself as a global leader in real world asset tokenization and remains at the forefront of tokenized equities.”

He added that SBI believes Ondo will become a key strategic partner as the group expands its global digital asset ecosystem.

Connecting Japan's Capital Markets to Blockchain

The partnership gives Ondo access to one of the world's largest and most sophisticated capital markets while opening new opportunities for Japanese assets to reach global investors.

Ondo CEO Ian De Bode said Japan has one of the world's most advanced financial markets and SBI plays a central role within it. He added that the partnership creates a path to connect Japanese assets with the global tokenized economy.

The partnership will also use SBI's JPYSC stablecoin to settle trades and manage collateral, creating a yen-denominated settlement layer for tokenized securities.

Ondo Strengthens its Lead in the RWA Market

According to the company, Ondo currently accounts for approximately 60% of the global tokenized equity market, making it the largest platform in the space.

The broader real-world asset market has expanded rapidly as financial institutions increasingly tokenize government bonds, money market funds, private credit and equities.

Growing institutional interest has already attracted major financial firms, including BlackRock and Franklin Templeton, both of which have launched tokenized investment products.

SBI Expands its Tokenization Strategy

The Ondo partnership is part of SBI's broader push to bring Japanese financial assets onto blockchain networks.

Just days earlier, SBI Global Asset Management launched a tokenized Japanese equity fund called the JX Token on Solana in partnership with regulated exchange DigiFT.

The fund gives institutional and accredited investors blockchain-based access to a portfolio of high-dividend Japanese stocks.

While the JX Token focuses on a tokenized investment fund, the Ondo partnership goes further by bringing Japanese equities onchain, distributing tokenized assets across SBI's ecosystem, and using the JPYSC stablecoin for settlement. Together, these initiatives show SBI is steadily building blockchain infrastructure for Japan's capital markets.