SBI Group, DigiFT and Startale Group have completed a joint proof of concept that used the Japanese yen stablecoin JPYSC on the Ethereum testnet to demonstrate the full lifecycle of tokenized securities. The test covered near-instant settlement for fund subscriptions and automated on-chain dividend distribution.
At the center of the initiative is the SBI Japan High Dividend Equity Fund, which is managed by SBI Asset Management and has about $1.3 billion in assets under management. SBI Group and DigiFT are now working to tokenize the fund, which the companies describe as one of Japan’s major public equity strategies.
The three firms said they completed two separate tests. One showed how JPYSC could be used to settle fund subscriptions on a near-instant basis. The other used smart contracts to automatically calculate dividends and distribute them to eligible token holders’ wallets after the record date process was completed.
The companies also said they plan to explore integrating tokenized Japanese equities with institutional DeFi platforms. They are considering tests with ecosystem partners including Morpho and Gauntlet for use cases such as collateralized lending and on-chain asset management.
SBI Group, DigiFT and Startale Group have completed a joint proof of concept using the Japanese yen stablecoin JPYSC on the Ethereum testnet to show the full lifecycle of tokenized securities, including near-instant settlement for fund subscriptions and automated on-chain dividend distribution.
Tokenization work centers on an SBI-managed equity fund
SBI Group and DigiFT are moving ahead with the tokenization of the SBI Japan High Dividend Equity Fund. The fund is managed by SBI Asset Management and has about $1.3 billion in assets under management. The companies described it as one of Japan’s major public equity strategies.
Two tests were completed in the proof of concept
The three parties said they completed two tests in the latest exercise.
- One test demonstrated the use of JPYSC for near-instant settlement of fund subscriptions.
- The other used smart contracts to automatically calculate dividends and distribute them to the wallets of eligible token holders after distribution registration had been completed.
Next step includes institutional DeFi use cases
The companies said they plan to explore integrating tokenized Japanese equities with institutional DeFi platforms. They are also considering tests with ecosystem partners including Morpho and Gauntlet for use cases such as collateralized lending and on-chain asset management.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
