SBI Group, a major Japanese financial conglomerate and long-standing Ripple partner, has announced a strategic partnership with Ondo Finance to introduce tokenized Japanese equities for both domestic and international markets.
Strategic partnership taps blockchain for Japanese equities
Under the new agreement, Ondo Finance, recognized for its expertise in tokenizing real-world assets, plans to issue digital representations of Japanese stocks through its affiliate, Ondo Global Markets (BVI) Limited. SBI Group will leverage its extensive financial network in Japan to distribute these tokenized equity products, aiming to provide broader access to one of the world’s largest capital markets.
A key element of the collaboration is the use of SBI’s JPYSC stablecoin for settlement and as collateral within the platform. This approach enables blockchain-based trading of Japanese equities, connecting traditional markets with the expanding global ecosystem of tokenized assets.
Both companies emphasized that the partnership will involve wider cooperation beyond mere distribution. They have agreed to promote each other’s products and services, seeking to accelerate institutional and retail adoption of tokenized financial instruments in and outside Japan.
Ian De Bode, CEO of Ondo Finance, highlighted Japan’s advanced capital markets and pointed to SBI’s reach as instrumental in bringing Japanese assets onchain for both domestic and international investors.
De Bode described the alliance as a way to bridge Japan’s sophisticated finance sector with the global tokenized economy, while enabling blockchain-based yen settlements.
Mini dictionary: SBI Group is one of Japan’s largest financial services companies, involved in banking, securities, asset management, and fintech solutions.
SBI-Ripple ties boost the tokenization landscape
This partnership comes immediately after another milestone for Ondo Finance. In the previous month, the XRP Ledger (XRPL) surpassed Ethereum and Solana to become the leading blockchain for Ondo’s tokenized U.S. Treasury fund, hosting approximately $274 million in on-chain assets. This development marks a significant step in establishing XRPL as a preferred network for institutional-grade tokenized products.
Ripple is not directly involved in the latest SBI-Ondo initiative. However, the move draws attention due to SBI Group’s influential relationship with Ripple, which began in 2016. SBI is now among Ripple’s largest shareholders and one of the main proponents of XRP and blockchain adoption throughout Asia.
The two companies established SBI Ripple Asia, facilitating modernization of cross-border payments for regional banks and supporting broader enterprise integration of blockchain technology through the XRP ecosystem.
SBI Group’s involvement in digital asset initiatives extends into regulated exchanges, asset custody, and the creation of stablecoins. Recently, SBI VC Trade became the first regulated entity in Japan to support Ripple’s RLUSD stablecoin, underscoring its commitment to Ripple’s ecosystem.
As blockchain-based tokenization changes the global financial landscape, SBI’s alliance with Ondo Finance enhances its leadership in this emerging sector. The collaboration also expands the institutional ecosystem around the XRP Ledger, highlighting its rising prominence in the growing market for tokenized real-world assets.
Beyond digital equities, SBI’s expanded tokenization strategy positions it strongly within next-generation blockchain finance and reinforces the XRPL’s role as a core infrastructure provider for asset tokenization.
