The SBI Group, one of Japan’s largest economic groups, and Chainlink today announced a strategic partnership that focuses on accelerating the adoption of blockchain and digital assets in all world markets.
Japan’s sophisticated financial market and the rapidly evolving digital asset ecosystems provide an ideal environment for starting and validating cases of initial use. This strategic collaboration combines SBI’s deep expertise with SBI’s safe and reliable infrastructure for data and interoperability, used by top financial institutions and Defi applications worldwide.
As blockchains support digital assets, the institutional blockchain interoperability solution is vital to the promotion of adoption and the development of a digital ecosystem of digital assets.
The SBI and Chainlink partnership focuses on a number of basic cases of use for financial institutions in Japan and the APAC region. This includes the activation of real world assets, such as real estate and bonds, using the Crosslink (CCIP) chain interoperability protocol, a protocol that allows for safe transactions in any chains ensuring compliance and privacy.
The CCIP and Chainlink SmartData will also be used to bring NAV data (NAV) for Tokenized Funds, which help unlock liquidity and improve functional efficiency.
The partnership will also focus on facilitating payment against payment (PVP) for FX transactions and cross -border transactions using CCIP Chainelink, while utilizing the proof of the reserve chain to provide transparent onchain verifications of stocks supporting Stablecoins.
“It was excellent collaboration with the SBI team, it is one of the most progressive and technically advanced teams in the Blockchain industry. We have manufactured very advanced tokenization and stablecoin DVP Cases with SBI transactions. The channels of compliance and the cross-border connectivity of Chainelink is what is needed to make high value institutional transactions.” Nazarov, co -founder, chainlink.
“Chainlink is a natural partner for SBI that complements our financial footprint with the top market interoperability and credibility. Director, President, President and CEO of SBI Holdings.
The SBI team and Chainlink have already proven uninterrupted cooperation in the past. Chainlink, UBS Asset Management and SBI Digital Markets (SBI’s subsidiary in Singapore) have previously completed an initiative for the automated administration and the transfer of the administration and transport service using smart contracts under the Monetary Authority of the Guardian of the Project of Singapou (Mas).