The Japanese economic giant SBI Holdings moves into the red-hot symbolized stock market through a joint venture with Singapore-based blockchain development company Startale.
Companies are planning to build an on-chain platform designed for trading tokenized stocks and assets in the real world (Rwas)they announced Friday.
The step puts SBI together with a growing list of larger players experimenting with tokenized shares. Robinhood and several crypto exchanges including Kraken, Gemini began offering blockchain-based versions of listed shares.
SBI that supervises more than 11 trillion yen (74 billion dollars) In assets and has over 65 million customers globally, active tagging sees a major shift in global markets.
“We predict that this movement will eventually lead to digitization of capital markets themselves, including exchanges,” Yoshitaka Kitao, president and CEO of SBI Holdings, said in a statement.
Joint Venture will focus on 24/7 trade in tokenized US and Japanese shares with almost instant settlement, the press release said. Features are expected to include fractional ownership, institutional quality custody and real -time monitoring.
“This platform will be very interoperable, always open, accessible to anyone and designed to meet the needs of users around the world in the global market,” said Yoshitaka Kitao.
Startale developed former Soneium, an Ethereum Layer-2 network, with Japanese tech giant Sony.
Read more: DBS launches tokenized structured notes on Ethereum, extended investor access
