Japan’s SBI Shinsei eyes tokenized crypto payments with new partnership
SBI Shinsei Bank, DeCurret and Partior will develop a blockchain-based settlement system for tokenized deposits in Japanese yen and other major currencies.
Japan’s SBI Shinsei Bank has partnered with Singapore-based Partior and Japan’s DeCurret DCP to explore multicurrency tokenized deposits for cross-border transactions.
The three signed a Memorandum of Understanding (MoU) on Tuesday, aiming to develop a blockchain-based settlement framework that supports real-time clearing in multiple currencies, according to an announcement.
DeCurret currently operates the DCJPY platform, which allows banks in Japan to issue yen-denominated tokenized deposits. SBI Shinsei plans to expand beyond the Japanese yen, aiming to issue tokenized deposits in other major currencies to meet the growing demand for faster international payments.