The companies are collaborating to build an institutional digital asset infrastructure.
A $200 billion Japanese financial services firm, SBI Group, has entered into a “strategic collaboration” with decentralized blockchain oracle network Chainlink to push the growth of interoperable blockchains and digital assets in capital markets, officials say.
A recent survey by SBI Digital Asset Holdings, SBI’s digital asset arm, found that among 50 financial firms, 76 percent cited lower costs and faster settlement times as drivers for investing in tokenized securities. Yet many bemoaned the absence of an institutional-grade digital asset infrastructure.
Chainlink was originally launched to solve the “blockchain oracle problem,” which is the inability of blockchains as closed systems to send or receive data externally. Hosted on Ethereum, Chainlink’s offerings are intended to enable interoperability among incompatible systems, officials say.
Officials add that the partnership will leverage SBI’s financial expertise with Chainlink’s infrastructure for data and interoperability for a range of institutional use cases. These include: cross-chain tokenized real-world assets such as real estate and bonds; tokenized fund net asset value (NAV) reporting; and secure foreign exchange (FX) and cross-border transactions using payment versus payment (PvP).
The SBI Group, or SBI Holdings, is a Japanese financial conglomerate headquartered in Tokyo that has diverse business segments including financial services, asset management, crypto-asset trading, insurance, and businesses in biotech, healthcare, and Web3, officials say. SBI is also engaged in online brokerages, fintech investment, and blockchain adoption across Japan and Asia.
Need a Reprint?