Ondo Finance Partners With SBI to Tokenize Japanese Assets

Ondo Finance, a tokenization platform for real-world assets, said Thursday it has partnered with SBI Group to tokenize Japanese assets, with distribution across SBI's ecosystem and settlement using the group's JPYSC yen stablecoin.

"The collaboration covers tokenizing Japanese assets with distribution across the SBI ecosystem, and settlement using the JPYSC stablecoin," Ondo said in a post on its official X account. The announcement describes a partnership and a path to market rather than a launched product.

SBI Group is one of Japan's largest financial-services companies. Its JPYSC stablecoin is a yen-denominated token the group has moved to issue under Japan's stablecoin framework.

Ondo CEO Ian De Bode tied the deal to Japan's markets. "Japan is one of the most sophisticated capital markets in the world, and SBI sits at the center of it. This collaboration creates a path to bring Japanese assets onchain," he said in the announcement.

Yoshitaka Kitao, SBI Holdings' representative director, chairman, president and CEO, said in the same post that "Ondo Finance has established itself as a global leader in the tokenization of real-world assets and is at the forefront of the tokenized equities market. We believe Ondo will be a key strategic partner as SBI Group forms a global corridor for digital assets."

ONDO traded at about $0.39, up roughly 17% over 24 hours and 23% over the prior seven days, with a circulating market cap near $1.89 billion, according to CoinGecko data retained at 14:31 UTC. Bitcoin was not moving comparably over the same window, indicating the gain was asset-specific.

The partnership extends earlier moves by both parties. Ondo has expanded its catalog of tokenized stocks and ETFs, and SBI has advanced plans to issue the JPYSC yen stablecoin.