SBI Group, the Japanese financial giant and longtime Ripple partner, has struck a strategic partnership with Ondo Finance to push tokenized finance in Japan. The two firms will focus on bringing Japanese stocks onto the blockchain and expanding the use of SBI's JPYSC stablecoin.
What the deal covers
The partnership is squarely aimed at tokenizing real-world assets — specifically Japanese equities. Ondo Finance, a platform known for tokenizing U.S. Treasuries and other traditional assets, will provide the infrastructure. SBI brings its regulated financial license, its existing JPYSC stablecoin, and a deep network of Japanese institutional clients.
Japan has been cautiously opening up to digital assets. The country's Financial Services Agency has allowed certain tokenized securities, but the market has been slow to take off. SBI's move with Ondo could be the push that gets Japanese stocks onto a blockchain rails, making them easier to trade and settle. The JPYSC stablecoin, which SBI has been developing, would serve as the settlement currency for these tokenized equities.
Neither firm has announced a launch date. But given SBI's track record of moving quickly once a partnership is signed — it was one of the first to list Ripple's XRP after the SEC lawsuit ended — expect concrete steps within the next few months. The real test will be whether Japanese regulators give the green light for retail investors to trade tokenized stocks.
