Japanese financial giant SBI Holdings is moving into a red-hot tokenized stock market through a joint venture with Singapore-based blockchain developer Startale.
The company plans to build an on-chain platform designed to trade tokenized stocks and real-world assets (RWAS)they announced on Friday.
This step will allow SBI to increase the roster of key players experimenting with tokenized inventory. Gemini, a number of crypto exchanges, including Robinhood and Kraken, has begun offering blockchain-based versions of publicly traded stocks.
SBI oversees over 11 trillion yen ($74 billion) With over 65 million customers across assets worldwide, asset tokenization is considered a major change in the global market.
“We expect this movement to lead to a rewarding digitalization of the capital market itself,” Yoshida Kitabe, president and CEO of SBI Holdings, said in a statement.
According to a press release, the joint venture focuses on 24/7 trading in US and Japanese stocks with a close instant settlement. Features are expected to include fractional ownership, facility-grade custody, and real-time compliance monitoring.
“The platform is highly interoperable, always open, accessible to everyone, and designed to meet the needs of users around the world in the global market,” Yoshita Kaitao said.
Startale previously developed Soneium, the Ethereum Layer-2 network, along with Japanese technology giant Sony.
Read more: DBS launches tokenized structured notes about Ethereum to increase investor access
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