The Japanese Finance Conglomerate SBI Group cooperated with the Blockchain Oracle Platform Chainlink to create a host of crypto tools for Asian financial institutions.
SBI Says On Sunday, its cooperation with the chainlink will focus on “a number of major use cases for financial institutions in Japan and the APAC (Asia-Pacific) region,” along with initial attention to the Japan market.
The pair will look at the tools to allow cross-blockchain tokenized real-world assets (Rwas), like Onchain bonds, and use chainlink technology to provide onchain verification for stablecoin reserves, among other plans.
It marked the Fourth Crypto collaboration For the SBI Group in recent days after it announced tie-ups with the Stablecoin Issuer Circle Internet Group, Crypto firm Ripple Labs and the Web3 Infrastructure Firm Startale on Friday.
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SBI added that its deal Chainlink The firm can be seen to use the flagship blockchain interoperability protocol for a host of use cases, including tokenizing RWAs and helping to facilitate foreign exchanges and cross-border transactions.
“I’m glad to see our great work move towards a state of production use on a large scale,” said chainlink co-founder Sergey Nazarov, adding his firm has long been helping SBI develop cases of using Stablecoin and “very advanced fund tokenization.”
The pair also said it would use chainlink data feed tools to “bring Net Asset (NAV) data data for tokenized funds,” and will be viewed to provide tools to provide onchain verification for stablecoin reserves.
The chairman of the SBI Holdings, President and CEO Yoshitaka Kitao said the two companies will also work on the “powering compliant cross-border transactions using stablecoins, which will accelerate the widespread adoption of digital property in Japan and the region.”
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