The giant financial SBI Holdings are moving to the Red-Hot Tokenized Stock Market through a joint adventure in Singapore based on Blockchain Development Firm Startale.
Companies plan to develop an on-chain platform designed for trading tokenized equities and real-world assets (Rwas)They announced on Friday.
The step places SBI next to a growing roster of major players experimenting with tokenized stocks. Robinhood and many crypto exchanges including the Kraken, Gemini The offering of blockchain-based versions of public shares began.
SBI, who oversees more than 11 trillion yen ($ 74 billion) In property and with more than 65 million customers worldwide, asset tokenization is seen as a major move to global markets.
“We predict that this movement will eventually lead to the digitalization of capital markets itself, including exchanges,” Yoshitaka Kitao, President and CEO of SBI Holdings, said in a statement.
The joint adventure will focus on the 24/7 trading of tokenized US and Japanese stocks with close instant settlement, the press release said. Features are expected to include fractional ownership, grade-institutional custody and real-time compliance monitoring.
“This platform will be quite interrelated, always open, accessible to anyone, and designed to meet the needs of worldwide users in the global market,” Yoshitaka Kitaka said.
Startale was previously developed by Soneium, an Ethereum Layer-2 network, with Japanese tech giant Sony.
Read more: DBS has launched tokenized structured notes in Ethereum, expansion
