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SBI expands tokenized Japanese equities push with DigiFT, Startale and Ondo

SBI expands tokenized Japanese equities push with DigiFT, Startale and Ondo

SBI completed Ethereum testnet trials for JPYSC-based fund settlement and dividend payouts with DigiFT and Startale, while separately partnering with Ondo Finance to issue tokenized Japanese assets and use the yen stablecoin for settlement and collateral across SBI’s distribution network.

ETH
ONDO
MORPHO

Fact Check
The official DigiFT announcement (dated 14 July 2026) directly confirms all core elements of the claim: SBI Group, DigiFT, and Startale Group completed proof-of-concept initiatives on Ethereum testnet using a testnet token representing the JPYSC yen stablecoin, demonstrating instant onchain settlement of tokenized equity fund subscriptions and automated smart-contract dividend distribution. It also confirms the plan to tokenize the SBI Japan High Dividend Equity Fund (AUM > ¥200 billion, equivalent to roughly $1.3 billion). Bitcoin.com News and Business Insider corroborate these details, with Bitcoin.com explicitly stating the ~$1.3B AUM figure. The only minor nuance is that the settlement used a testnet token simulating JPYSC rather than production JPYSC, but this is consistent with the claim's 'testnet POC' framing.
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Summary

SBI Group is broadening its tokenized Japanese equities strategy through two related initiatives. With DigiFT and Startale Group, it completed two Ethereum testnet proof-of-concept trials using the trust bank-backed yen stablecoin JPYSC to demonstrate near-instant settlement for tokenized fund subscriptions and automated on-chain dividend distributions. The partners are preparing to tokenize the SBI Japan High Dividend Equity Fund, managed by SBI Asset Management, which has about $1.3 billion, or ¥200 billion, in assets under management, and plan to explore links to institutional DeFi platforms including Morpho and Gauntlet. Separately, SBI and Ondo Finance announced a strategic partnership to bring tokenized Japanese stock assets on-chain through Ondo Global Markets (BVI) Limited, distribute them across SBI’s broader financial ecosystem, and use JPYSC for settlement and collateral in a digital-yen-denominated market structure. JPYSC was launched on June 24, 2026 as the first trust bank-backed yen stablecoin, underscoring SBI’s push to build domestic tokenized market infrastructure around yen settlement rather than relying on dollar-based stablecoins.

Terms & Concepts
  • tokenized securities: Traditional financial assets represented digitally on blockchain-based infrastructure.
  • JPYSC: A trust bank-backed Japanese yen stablecoin that SBI is using for settlement, dividend payments and collateral in tokenized asset markets.
  • smart contracts: Self-executing blockchain programs used to automate actions such as calculating and distributing payouts.