SBI Group and Chainlink form partnership for Digital Assets

SBI Group, one of Japan’s largest financial groups with over USD $200 billion in assets, has partnered with Chainlink. This collaboration aims to speed up blockchain and digital asset use in major global markets.

Japan has a smart financial market. Its fast-growing digital asset scene is perfect for launching and testing new ideas. SBI and Chainlink are teaming up. SBI brings deep market know-how, while Chainlink offers secure data and interoperability. Many top financial institutions and decentralized finance apps trust Chainlink. Together, they aim to create a solid base for institutions to adopt digital assets.

SBI Digital Asset Holdings, the group’s digital asset arm, offers valuable market insights to the partnership. In a recent survey of over 50 financial institutions, 76% of respondents plan to invest in tokenized securities. They talked about benefits such as lower costs and faster settlement times. The findings highlighted a major barrier to adoption: a lack of strong market infrastructure for digital assets. Blockchains support these assets, so creating a strong interoperability framework is key. This will help boost adoption and develop a complete digital asset ecosystem.

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SBI Group そして Chainlink are teaming up. They will first look into use cases that matter to financial institutions in Japan and the Asia-Pacific region. They will focus on using Chainlink’s Cross-Chain Interoperability Protocol (CCIP). This will help tokenize real-world assets like real estate and bonds. It will also allow secure and compliant cross-chain transactions. CCIP and Chainlink’s SmartData solutions will be used to bring net asset value data for tokenized funds onchain, a move expected to unlock new liquidity opportunities and improve operational efficiency. The collaboration will also extend to the development of payment versus payment solutions for foreign exchange and cross-border transactions, as well as the use of Chainlink’s Proof of Reserve framework to deliver greater transparency for stablecoins through verifiable onchain proof of backing reserves.

This announcement builds on a proven history of collaboration between the two parties. Chainlink, UBS Asset Management, and SBI Digital Markets, a Singapore-based subsidiary of SBI, previously completed a joint initiative under the Monetary Authority of Singapore’s Project Guardian, successfully demonstrating automated fund administration and transfer agency processes through the use of smart contracts.