Japan's financial group SBI collaborates with blockchain oracle platform Chainlink to develop various crypto tools for financial institutions in Asia.
SBI stated that its collaboration with Chainlink will focus on some key applications for financial institutions in Japan and the Asia-Pacific region, with an initial emphasis on the Japanese market.
Both parties will explore cross-blockchain tools for tokenizing real assets (such as on-chain bonds) and utilize Chainlink's technology to provide on-chain verification for stablecoin reserves.
This marks the fourth cryptocurrency collaboration for the SBI Group in recent days, having previously announced partnerships with stablecoin issuer Circle, crypto company Ripple, and Web3 infrastructure company Startale.
Chainlink supports financial technology innovation.
SBI added that the agreement with Chainlink will utilize its flagship blockchain interoperability protocol, covering multiple application scenarios, including tokenizing real assets and supporting foreign exchange and cross-border transactions.
Chainlink co-founder Sergey Nazarov stated that he looks forward to applying the results of the collaboration in large-scale production and mentioned that his company has long been helping SBI build applications for stablecoin settlement and advanced fund tokenization.
Both parties also plan to use Chainlink's data feed tools to bring net asset value data on-chain, enabling tokenized funds and providing on-chain verification tools for stablecoin reserves.
SBI Holdings Chairman, President, and CEO Yoshitaka Kitao stated that both parties will work together to use stablecoins to drive compliant cross-border transactions, accelerating the adoption of digital assets in Japan and the region.
This event is still developing, and further information will continue to be updated.
