Japanese financial giant SBI Group has reached new blockchain collaboration agreements with USDC issuer Circle, XRP developer Ripple, and Web3 company Startale.
On Friday, SBI announced three new collaborations: stablecoin partnerships with American companies Circle and Ripple, and a tokenization project with Singapore's Startale.
SBI plans to work with Startale to establish an on-chain trading platform for tokenized stocks and real assets, enabling trading around the clock.
In the stablecoin collaboration, SBI will explore ways to promote Circle's USDC and Ripple's RLUSD.
Joint venture between Circle and issuance of RLUSD
SBI's joint venture with Circle aims to promote the use of USDC in Japan; the partnership with Ripple is to distribute RLUSD in Japan through SBI's subsidiary, SBI VC Trade.
'The establishment of this joint venture aims to promote the application of USDC in Japan and create new use cases in the Web3 and digital finance space,' SBI stated.
SBI had previously announced similar collaborations with Circle and Ripple, and SBI VC Trade has completed the registration necessary to support USDC operations.
Startale collaboration promotes RWA trend
The collaboration with Startale involves a 'milestone funding commitment' to establish an on-chain tokenization platform that will soon go live in Japan.
SBI CEO Yoshitaka Kitao stated: 'Tokenized RWA can achieve real-time settlement around the clock, unprecedented liquidity, and capital efficiency accelerating the integration of traditional finance and DeFi.'
Although the specific launch date and blockchain network for the Startale platform have not yet been determined, Startale is known for its involvement in the development of Sony's Soneium and the Astar Network.
The mission of this collaboration is to provide a compliant tokenized asset trading platform available around the clock, with more details to be announced later.
