Hassan Maishera
On Thursday, the Ondo Finance team announced via X that it has partnered with SBI Group, one of Japan's leading financial institutions.
The collaboration covers tokenizing Japanese assets with distribution across the SBI ecosystem, and settlement using the JPYSC stablecoin.
Under the strategic partnership, the two companies will work towards:
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Tokenization and distribution of Japanese assets onchain, with tokenized instruments to be issued by Ondo Global Markets (BVI) Limited
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Use of SBI’s JPYSC stablecoin for settlement and collateral on Ondo tokenized assets
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Distribution of Ondo tokenized assets through the SBI Group ecosystem
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Cross-promotion of each party's products and services through their respective customers, channels, and strategic partners.
Together, SBI and Ondo aim to build a bridge between Japan's capital markets and the global tokenized economy, expanding access to Japanese assets for investors worldwide and laying the groundwork for yen-denominated settlement onchain.
Ondo (ONDO) stands as a beacon in the realm of decentralized finance, aiming to democratize access to institutional-grade financial services. Founded in 2022 and based in the Cayman Islands, Ondo operates through a unique ecosystem that bridges traditional finance with blockchain technology.
The Ondo Foundation collaborates closely with Ondo Finance, its commercial partner, to support decentralized protocols and the tokenization of real-world assets.
The ONDO token, sold to over 18,000 individuals in mid-2022, plays a pivotal role within this ecosystem. It serves as a governance token within the Ondo Finance decentralized autonomous organization (DAO), granting holders specific rights related to Flux Finance, which is governed by the Ondo DAO. This governance structure empowers ONDO token holders to influence the direction and policies of the DAO, ensuring that the mission of democratizing finance remains at the forefront.
Flux Finance, a key component of the Ondo ecosystem, benefits from the oversight and governance provided by ONDO token holders. This decentralized approach ensures that decisions are made transparently and in the best interest of the community. The Ondo Foundation's commitment to supporting decentralized protocols and tokenized assets further solidifies its role as a transformative force in the financial landscape.
ONDO, the native coin of Ondo Finance, is down 2.8% in the last 24 hours and is now trading at $0.3627.
