Overview
- The partnership was announced on Thursday, July 16, when SBI and Ondo said Ondo Global Markets (BVI) will issue tokenized Japanese assets and SBI will support distribution across its financial network.
- SBI said it will integrate its yen stablecoin JPYSC as the settlement currency and onchain collateral for Ondo‑issued products while Ondo handles issuance.
- Neither firm has published a launch date, the first assets to be tokenized, or the regulatory framework that will govern investor access and custody.
- The market reacted quickly to the news, with ONDO token prices rising about 15–17% within 24 hours after the announcement.
- The deal builds on SBI’s recent onchain moves — including JPYSC’s June 24 launch and a July 15 tokenized equity fund — and could cut cross‑border friction for investors but still faces regulatory, liquidity, and operational risks.