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Chainlink Teams Up With Japan’s SBI Group: Could This Deal Ignite the Next Tokenization Wave?

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Chainlink, the leading blockchain oracle network, has announced a unique partnership with Japan’s SBI Group, a financial giant managing over $200 billion in assets.

The collaboration is set to accelerate the adoption of tokenized real-world assets (RWAs), stablecoins, and blockchain-powered cross-border payments in Japan and across the Asia-Pacific region.

SBI, with its deep financial expertise, and Chainlink, known for its interoperability protocols and trusted oracles, aim to build the institutional-grade infrastructure needed to bring traditional finance closer to blockchain.

This comes as demand for tokenized securities grows, an SBI Digital Asset Holdings survey revealed 76% of financial institutions are ready to invest in tokenized assets but are held back by weak infrastructure.

SBI and Chainlink to Power Stablecoins and Cross-Border Payments

The partnership’s first focus will be tokenization of real estate and government bonds, powered by Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This will allow institutions to transfer tokenized assets seamlessly across multiple blockchains while ensuring regulatory compliance.

Chainlink’s SmartData will also enable on-chain publishing of net asset value (NAV) data for tokenized funds. This innovation enhances liquidity, transparency, and efficiency for fund managers.

Stablecoins are another key area of collaboration. By integrating Chainlink’s Proof of Reserve, the partnership ensures that stablecoin reserves can be verified in real time, strengthening transparency and trust in settlement systems.

Additionally, SBI and Chainlink plan to build payment-versus-payment (PvP) settlement solutions for foreign exchange and global transfers, eliminating the need for an intermediary bridge currency.

LINK’s price trends to the downside following a major push upwards on the daily chart. Source: LINKUSD on Tradingview

Institutional Adoption: Chainlink and SBI’s Global Vision

Chainlink co-founder Sergey Nazarov emphasized that SBI’s adoption of Chainlink infrastructure is a strong signal that blockchain is entering a large-scale production phase. He explained that earlier pilots in tokenization and stablecoin settlement are now maturing into real-world financial applications.

SBI CEO Yoshitaka Kitao echoed this view, calling Chainlink a “natural partner” for building secure, compliant systems for cross-border finance.

The partnership builds on prior collaborations, including Project Guardian in Singapore, where SBI, Chainlink, and UBS Asset Management tested automated fund services using smart contracts.

With Japan’s regulatory space warming up to digital assets and stablecoins, this partnership could mark a turning point for institutional adoption in Asia, potentially igniting the next big wave of tokenization worldwide.

Cover image from ChatGPT, LINKUSDC chart from Tradingview

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Price Falls Despite Major SBI Group Partnership
Crypto Trends

Price Falls Despite Major SBI Group Partnership

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Native token of oracle network Chainlink LINK$24.20 declined in tandem with the broader crypto market despite a fresh partnership with Japanese financial giant SBI Group.

LINK declined to $24.4, down more than 6% over the past 24 hours, CoinDesk data shows. That’s a sharp reversal from the Friday’s year-to-date peak over $27.

The downward trajectory accelerated through successive trading sessions with persistent lower peaks, whilst the concluding hour exhibited stagnation with negligible volume, suggesting potential consolidation, according to CoinDesk Research’s technical analysis model.

On the news side, SBI Group, one of Japan’s largest financial conglomerates, said on Monday it has teamed up with Chainlink to develop tokenized assets and stablecoin solutions in Japan, with future plans to expand into other Asia-Pacific markets.

SBI will use Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to support transactions across different blockchains while maintaining compliance. The firms will also test tokenized funds by bringing net asset value data on-chain and explore payment-versus-payment settlement for foreign exchange and cross-border transactions. Chainlink’s Proof of Reserve will be used to verify stablecoin reserves.

SBI and Chainlink have previously collaborated under Singapore’s Project Guardian, a Monetary Authority of Singapore (MAS) initiative exploring blockchain use in finance.

Technical Indicators Analysis

  • Resistance established at $26.61 with sharp reversal upon elevated volume activity.
  • Critical support emerged at $24.37 with purchasing interest.
  • Extraordinary volume of 7,850,571 units during peak volatility, substantially exceeding 24-hour average of 2,687,393.
  • Systematic lower peak formations indicating bearish momentum acceleration.

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.



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Sbi Holdings Forms Joint Venture With Circle To Advance Usdc In Japan
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SBI Holdings Forms Joint Venture With Circle to Advance USDC in Japan

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SBI Holdings has announced the establishment of a joint venture with Circle Internet Holdings, the company behind USDC. The new entity will focus on promoting the use of USDC in Japan and developing related digital finance services.

The partnership aims to boost the adoption of USDC and unlock new use cases in payments, digital finance, and Web3 services. By combining SBI’s extensive financial network with Circle’s blockchain expertise, the venture aims to bridge key gaps in Japan’s digital asset market and provide investors with a trusted, regulated way to transact with stablecoins.

A Partnership Years in the Making

The joint venture builds on earlier agreements between the two companies.SBI signed a memorandum of understanding with Circle to explore USDC circulation in Japan in November 2023, and both parties signed a joint agreement in March 2025, which led to this launch.

The groundwork has already been laid. Earlier this year, SBI VC Trade—SBI’s crypto-asset exchange arm—became the first firm in Japan to register as an Electronic Payment Instruments Service Provider. That milestone allowed it to begin offering USDC trading services, making the stablecoin more accessible to Japanese investors.

“By leveraging the SBI Group’s financial infrastructure and Circle’s expertise, the two parties will contribute to advancing Japan’s digital financial ecosystem,” SBI Holdings said in its announcement.

SBI has also become a financial backer of Circle. Following Circle’s listing on the New York Stock Exchange in March 2025, the group purchased $50 million worth of Circle shares as a strategic investment.

Expanding Stablecoin and Web3 Horizons

The venture with Circle is part of SBI’s broader push into blockchain partnerships. Alongside USDC, the group is working with Ripple to roll out Ripple USD (RLUSD) in Japan and has teamed up with Singapore’s Startale to build a tokenized trading platform for stocks and real-world assets.

Also Read: Japan Prepares to Approve First Yen-Backed Stablecoins This Fall



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Sbi Holdings To Launch On-Chain Tokenized Stock Trading Platform
Crypto Trends

SBI Holdings to launch on-chain Tokenized Stock trading platform

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Japanese financial giant SBI Holdings is entering the tokenized stock market through a new partnership with Singapore-based blockchain company Startale Group. With this partnership, they plan to create an on-chain trading platform for tokenized stocks and real-world assets (RWAs).

As per the official announcement, the platform will combine SBI’s financial network with Startale’s blockchain technology, which will fill critical market gaps left by traditional tokenized stock services.

What will Platform offer?

The traditional stock markets close on evenings and weekends, but the platform will allow people to trade U.S. and Japanese stocks 24/7. The platform will further provide fractional ownership, allowing investors to purchase a fraction of a stock rather than a whole one, in addition to quick settlement of trades and institutional-grade security. 

The new platform will also integrate with DeFi, thus enabling investors to employ tokenized stocks in various financial apps and services.

SBI Holdings oversees over $74 billion in assets and has over 65 million customers across the globe. The company views asset tokenization as the future of global finance. It also thinks this trend would one day make entire capital markets, including stock exchanges themselves, digitalized.

Future Plans

This move positions SBI among the firms such as Robinhood, Kraken, Gemini, and Bybit, which have recently broadened tokenized stock offerings. Specialists estimate that the market of tokenized assets will be worth $18.9 trillion in 2033, and SBI and Startale intend to create infrastructure to assist in this prospect.

Yoshitaka Kitao, CEO of SBI Holdings, said that the tokenization of real-world assets is transforming global markets. He also predicts, “This movement will eventually lead to the digitalization of capital markets themselves, including exchanges. By capturing this trend and by leveraging our corporate ecosystem together with Startale’s blockchain technology, we have great expectations for creating a new decentralized platform.”

For this, SBI and Startale will form two joint venture companies—one to handle the technology development, and another to manage brand growth and business expansion.

Funding for the project will be released step by step based on progress milestones, ensuring careful growth toward commercial launch. The companies said more details, including the launch date, will be announced as development continues.

Also Read: Japan Prepares to Approve First Yen-Backed Stablecoins This Fall





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Volatility Shares launches first XRP futures ETF on Nasdaq
NFT Gaming

Ripple’s RLUSD to launch in Japan through SBI partnership by Q1 2026

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Ripple’s RLUSD stablecoin is set to debut in Japan in early 2026 through a distribution partnership with SBI Holdings and its crypto arm, SBI VC Trade.

Summary

  • Ripple’s RLUSD stablecoin will be distributed in Japan via SBI VC Trade under a new agreement.
  • The Japan rollout follows Ripple’s RLUSD gaining regulatory approval in Dubai and comes as Japan prepares to issue its first official stablecoin.

Ripple (XRP) announced today that it will begin distributing its U.S. dollar–backed stablecoin, Ripple USD (RLUSD), in Japan during the first quarter of 2026 in partnership with SBI Holdings, a Japanese financial conglomerate. The rollout will be handled by SBI VC Trade, the licensed crypto exchange unit of SBI, under a newly signed memorandum of understanding between the two firms.

“The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins in the Japanese market, and an important step in further accelerating the convergence of finance and digital technology,” said SBI VC Trade CEO Tomohiko Kondo.

“RLUSD is designed to be a true industry standard, providing a reliable and efficient bridge between traditional and decentralized finance. We are confident that this partnership will not only drive stablecoin utility in Japan but also set a new benchmark for the entire market,” said Jack McDonald, Ripple’s Senior Vice President of Stablecoins.

Ripple’s RLUSD: market position and global expansion

Ripple’s RLUSD stablecoin, first launched in December last year, is fully collateralized by U.S. dollar deposits, short-term Treasury securities, and other liquid cash equivalents, with independent monthly attestations. As of August, it holds a market capitalization of $666 million, ranking as the eighth-largest stablecoin by market value, just behind PayPal USD, according to CoinMarketCap’s stablecoin rankings.

The expansion into Japan coincides with the country’s preparations to launch its first officially sanctioned stablecoin. It also follows Ripple securing approval from the Dubai Financial Services Authority in early June, which enabled RLUSD’s integration into the region’s payment platforms.



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Ripple and SBI to Launch RLUSD Stablecoin in Japan by Early 2026

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In brief

  • Japan’s Payment Services Act amendments, effective since 2023, created a licensing regime for issuing and distributing fiat-pegged stablecoins.
  • SBI VC Trade, the first firm licensed as an Electronic Payment Instruments Exchange Service Provider, already handles USDC and will now add RLUSD.
  • Japan has a structured and bank-friendly crypto regime, while its local players place a premium on compliance, Decrypt was told.

Ripple and SBI Holdings are preparing to launch the RLUSD stablecoin in Japan by early next year, as the country’s freshly crafted stablecoin laws open its market to foreign issuers.

The joint move was signed under a memorandum of understanding that will see Ripple’s RLUSD stablecoin distributed in Japan through SBI VC Trade, the group’s licensed crypto exchange, Ripple announced late Thursday evening.

Ripple’s entry would help step up the “reliability and convenience of stablecoins in the Japanese market,” SBI VC Trade CEO Tomohiko Kondo said in a statement.



It comes as Japan’s Payment Services Act amendment took effect in June 2023, establishing a licensing regime for electronic payment instruments. An earlier version of the stablecoin framework was passed by the Japanese parliament in 2022.

The framework has been continuously refined through new amendments set to roll out by 2026, including relaxed reserve requirements and updated licensing tiers, according to a report from Asia Business Law Journal.

Under the new rules set to take effect next year, only licensed entities such as fund transfer service providers or trust banks can issue or distribute fiat-pegged stablecoins, a framework that has opened the door to regulated launches like RLUSD.

SBI VC Trade was the first in Japan to secure an Electronic Payment Instruments Exchange Service Provider license, allowing it to handle foreign-issued stablecoins.

“Japan quietly has a very structured and bank-friendly crypto regime given its continuously revised Payment Services Act,” Rick Maeda, Tokyo-based analyst at Presto Research, told Decrypt.

Ripple “leverages this regulatory moat as well as SBI’s deep retail and institutional reach,” Maeda said.

He pointed to RLUSD’s “institutional branding and reserve transparency,” which could help it against competitors, given how the Japanese market’s regulators, banks, and corporates “place a premium on compliance.”

Earlier in March, NYSE-listed stablecoin issuer Circle received the first approval of a U.S. dollar-pegged stablecoin in Japan for its USDC product. Tether, which issues USDT, a larger competing stablecoin, has not received similar approval.

RLUSD, meanwhile, operates with a smaller market circulation of about $667 million over an average daily trading volume of about $71 million, according to data on CoinGecko.

RLUSD is issued under a New York State trust-company charter, backed fully by cash, short-term Treasuries, and cash equivalents with monthly reserve attestations, according to Ripple.

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Crypto Trends

Ripple, SBI Plan RLUSD Stablecoin Distribution in Japan by 2026

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Ripple and SBI Holdings plan to roll out Ripple USD (RLUSD) in Japan, aiming to tap into the country’s emerging stablecoin market under new regulatory frameworks.

The two companies announced on Friday that they had signed a memorandum of understanding, in which SBI VC Trade’s role is that of distributor. SBI VC Trade, a licensed Electronic Payment Instruments Exchange Service Provider, aims to make RLUSD to go live in Japan during the first quarter of 2026.

RLUSD is Ripple’s first stablecoin initiative, launched in December 2024. The token is fully backed by U.S. dollar deposits, short-term Treasuries and cash equivalents, with monthly attestations from a third-party firm.

Ripple says this structure offers regulatory clarity and institutional-grade compliance — traits it argues will differentiate RLUSD from peers.

SBI executives framed the partnership as a step in strengthening Japan’s digital finance infrastructure. “The introduction of RLUSD will not just expand the option of stablecoins in the Japanese market, but is a major step forward in the reliability and convenience of stablecoins,” said SBI VC Trade CEO Tomohiko Kondo.

Ripple executives echoed the compliance focus. “RLUSD is designed to be a true industry standard, providing a reliable and efficient bridge between traditional and decentralized finance,” said Jack McDonald, Ripple’s senior vice president of stablecoins.

The rollout also highlights the deepening ties between Ripple and SBI, longtime partners in Asia’s blockchain ecosystem. It also comes as Japan approved the first yen-denominated stablecoin for issuance in the country earlier this week.



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Japan’s SBI Holdings Joins Tokenized Stock Push With Startale Joint Venture

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Japanese financial giant SBI Holdings is moving into the red-hot tokenized stock market through a joint venture with Singapore-based blockchain development firm Startale.

The companies plan to build an on-chain platform designed for trading tokenized equities and real-world assets (RWAs), they announced on Friday.

The step puts SBI alongside a growing roster of major players experimenting with tokenized stocks. Robinhood and several crypto exchanges including Kraken, Gemini started offering blockchain-based versions of publicly traded shares.

SBI, which oversees more than 11 trillion yen ($74 billion) in assets and has over 65 million customers globally, sees asset tokenization as a major shift in global markets.

“We predict that this movement will eventually lead to the digitalization of capital markets themselves, including exchanges,” Yoshitaka Kitao, president and CEO of SBI Holdings, said in a statement.

The joint venture will focus on 24/7 trading of tokenized U.S. and Japanese stocks with near-instant settlement, the press release said. Features are expected to include fractional ownership, institutional-grade custody and real-time compliance monitoring.

“This platform will be highly interoperable, always open, accessible to anyone, and designed to meet the needs of users worldwide in the global market,” Yoshitaka Kitao said.

Startale previously developed Soneium, an Ethereum layer-2 network, with Japanese tech giant Sony.

Read more: DBS Launches Tokenized Structured Notes on Ethereum, Expanding Investor Access



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Ripple Rolls Out Permissioned DEX on XRP Ledger, SBI CEO Shares Hot Take
NFT Gaming

Ripple Rolls Out Permissioned DEX on XRP Ledger, SBI CEO Shares Hot Take

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  • Here’s how Permissioned DEX on XRPL works
  • Next step for XRPL

Yoshitaka Kitao, CEO of the SBI Group, has published a tweet, in which he highlighted a major new step for the XRP Ledger — the rollout of a Permissioned DEX (decentralized exchange) on the XRPL.

Here’s how Permissioned DEX on XRPL works

This is a pivotal move for real-world financial apps running on the XRPL. According to the latest press release published by Ripple, the Permissioned DEX allows regulated financial institutions “to trade or move value on the XRPL Decentralized Exchange (DEX) without compromising on compliance, scalability, or decentralization.” This launch took place earlier this year after Ripple shared an outline of its vision for unlocking DeFi access for financial institutions on the XRP Ledger.

A permissioned DEX offers a fixed set of rules for only approved participants to match their offers with a specific group, called a Permissioned Domain. Particularly, this type of DEX allows app creators to make permissioned order books for permissionless coins, such as XRP, stablecoins or wrapped cryptocurrencies, and they will only be granted access via allowlisted accounts.

The XRP Ledger can run multiple permissioned DEXes, and each one would be “uniquely associated with a permissioned domain, which acts as an allow-list for accessing that DEX,” the press release says. Trades on such a permissioned DEX can only work against other trades offered in the same permissioned DEX. Each of those platforms on the XRPL can have order books for an unlimited number of crypto pairs.

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Next step for XRPL

Ripple believes the launch of this permissioned DEX is the next step for the XRPL since it solves the hurdle of adding compliance to the DEX without breaching its concept of decentralization, cost efficiencies or user control. As mentioned above, the new permissioned DEX enables only authorized participants to take part in trading on this platform.

Thanks to the launch of this new platform, financial institutions can begin to use the XRPL DEX right away, enjoying every aspect of compliance it offers. This allows for a new level of institutional-grade trading activity to begin here, which will be regulated, easy to scale, charging low fees on trades.

The following use cases can be explored on the new XRPL-powered DEX: stablecoin/fiat FX swaps, contractor/payroll payouts, cross-border B2B payments and corporate treasury.



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