Japan's SBI Holdings is continuing full steam ahead on its push into onchain finance, announcing a partnership with Ondo Finance on Thursday to bring Japanese equities onchain.
The companies said they will work together to tokenize Japanese equities through Ondo Global Markets, distribute Ondo's products across SBI's network and use SBI's JPYSC stablecoin for settlement and collateral.
The agreement is the latest in a string of digital asset initiatives by the Japanese financial conglomerate as it builds an onchain finance ecosystem that spans tokenized assets, stablecoins, exchanges and market infrastructure suited to institutions.
In just the past month, SBI became the sole investor in Gauntlet's $125 million Series C and EDX Market's $75 million Series C funding rounds, launched JPYSC, Japan's first trust bank-backed yen stablecoin, announced a lending product for the token, and partnered with the Solana Foundation to build a Japan-based onchain financial market. It also acquired Japanese crypto exchange Bitbank for nearly $289 million in June.
Thursday's deal with Ondo now extends that push into the growing tokenized equities space and will connect Japan's capital markets with the tokenized economy.
