Ondo Finance just locked arms with one of Japan’s most powerful financial conglomerates. The tokenization protocol announced a strategic partnership with SBI Group to bring Japanese equities onchain, with settlements handled through SBI’s yen-denominated JPYSC stablecoin.
The market noticed. ONDO tokens jumped roughly 15-17% within 24 hours of the announcement, pushing the price to around $0.39 and the circulating market cap to approximately $1.89B.
What the deal actually looks like
Here’s the structure: tokenized Japanese assets will be issued through Ondo Global Markets (BVI) Limited, then distributed via SBI’s sprawling financial ecosystem. SBI Group manages more than $250B in assets, making it one of the largest financial holding companies in Asia.
The JPYSC stablecoin, SBI’s yen-backed token issued under Japan’s stablecoin regulatory framework, will serve as both the settlement currency and onchain collateral.
