KGI Financial Holding said on Sept. 1 that its Hong Kong securities unit, KGI Asia, has partnered with Singapore-licensed real-world asset exchange DigiFT to launch kTW50, a token issued on Ethereum and linked to the KGI Taiwan TOP50 ETF (009816). The company described it as the world’s first on-chain RWA token tied to a Taiwan-listed ETF. The product comes with clear access limits. DigiFT’s product page says kTW50 has a $10,000 minimum subscription amount and is available only to accredited investors and institutional investors as defined under Singapore’s Securities and Futures Act. That means Taiwan-based retail investors cannot buy it. The token does not represent direct ownership of Taiwan stocks or of the ETF certificate itself. Instead, it represents beneficial rights in Class A shares of KGI Taiwan TOP 50 Feeder SP, an offshore fund that invests all or substantially all of its net asset value into 009816. DigiFT also said the token can be transferred around the clock between authorized holders on a whitelist, while the underlying listed security continues to trade only during Taiwan Stock Exchange hours. BlockTempo’s report added that some key details, including the contract address, custodian and redemption mechanism, have not yet been disclosed.

UBS executed the first end-to-end tokenized fund trade using Chainlink, while Fidelity, WisdomTree, Amundi and others adopted its infrastructure for subscriptions, settlements, compliance and NAV reporting.

Real-world asset activity expanded on-chain during the week ending July 17, 2026, even as stablecoin payments lost momentum. Data cited from RWA.xyz showed total on-chain RWA market capitalization rising to $34.9 billion, up 3.74% from a month earlier, while the number of asset holders climbed to 1.077 million, a record high. At the same time, stablecoin market capitalization edged down to $299.06 billion and monthly transfer volume fell 20.9% to $5.49 trillion, pointing to a split between broader user participation and softer settlement demand. Regulation moved on several fronts. In the United States, a bipartisan housing bill containing a central bank digital currency ban became law automatically after Donald Trump declined to sign it. The UK set an early-2027 target for a digital sovereign bond, the European Central Bank selected 36 payment firms for a digital euro pilot due to begin in the second half of 2027, and regulators or governments in Russia, South Korea, Bolivia and Tanzania also advanced new digital asset rules or pilots. On the industry side, JPMorgan, Bank of America, Citi, Wells Fargo and HSBC are joining a shared tokenized deposit network operated by The Clearing House. DTCC is working with nearly 40 institutions on tokenized stocks and U.S. Treasuries, while Japan remained a focal point through SBI, Progmat and Lawson. Funding activity also stayed strong, led by Alpaca’s $135 million round, Flex’s $70 million financing and Velocity’s $38 million Series A.

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 that used the yen-denominated stablecoin JPYSC on the Ethereum testnet to demonstrate the full lifecycle of tokenized securities. The test covered near-instant fund subscription settlement and an automated on-chain dividend distribution process. According to the announcement carried by ChainCatcher, SBI Group and DigiFT are also advancing the tokenization of the SBI Japan High Dividend Equity Fund, which is managed by SBI Asset Management and has about $1.3 billion in assets under management. The companies said they finished two test scenarios: one for near-instant settlement of fund subscriptions with JPYSC, and another in which smart contracts automatically calculated and sent dividends to eligible token holders after distribution record registration was completed. The three firms also plan to explore how tokenized Japanese equities could be integrated with institutional DeFi platforms, including potential tests with ecosystem partners such as Morpho and Gauntlet for collateralized lending and on-chain asset management use cases.

SBI Holdings used the momentum around Tokyo’s WebX conference to highlight a broader shift in its digital-asset strategy: the Japanese financial group is no longer treating crypto trading, liquidity, tokenization and payments as separate business lines. Instead, it is assembling a layered on-chain finance system built around settlement, asset issuance, markets, treasury yield, distribution and investor access. Over the past month, SBI took part in Morpho’s $175 million financing, invested $125 million in Gauntlet, launched the yen stablecoin JPYSC and rolled out Ripple’s RLUSD in Japan. It has also expanded work with Startale on the Strium blockchain, set up tokenization initiatives with DigiFT, and entered a strategic partnership with the Solana Foundation. At the center of the plan are three stablecoins with different functions: JPYSC for domestic yen-linked flows, USDC for global on-chain liquidity, and RLUSD for institutional and cross-border use cases. Around that base, SBI is trying to connect tokenized securities, RWA infrastructure, lending markets and on-chain asset management. Many pieces are still in early stages, but the outline of SBI’s effort to rebuild settlement, issuance, trading, credit and asset management on-chain is becoming clearer.

A closed-door session on Japan’s real-world asset tokenization, stablecoins and the BNB ecosystem was held in Tokyo on July 13 during WebX, bringing together traditional financial institutions, listed companies, asset owners, stablecoin issuers and Web3 infrastructure teams. Hosted by ASIAN STAR with Hash Global as co-organizer and BNB Chain as blockchain ecosystem partner, the event focused on how Japanese assets can move beyond basic token issuance toward regulated, institutional-grade onchain finance. Speakers discussed the role of governance, valuation, disclosure, KYC/AML and investor suitability in bringing Japanese real estate, trust interests and other yield-bearing assets onto blockchain rails. ASIAN STAR outlined a framework using Japanese GK-TK structures alongside BNB Chain’s settlement and custody capabilities, while BNB Chain representatives said the sector is shifting from defining RWA to solving for scale and real financial use cases. Panelists also examined compliance boundaries, trust requirements for stablecoins, and the conditions needed for pilot RWA projects in Japan, including licensed partners, custody, fiat on- and off-ramps, settlement tools and secondary liquidity plans. The event concluded with ASIAN STAR and Hash Global signing a strategic MOU to work on a Japanese real estate fund project within the BNB Chain ecosystem.

SBI Global Asset Management and DigiFT have launched JX, a tokenized investment product on Solana that brings a Japanese high-dividend equity strategy on-chain. The product is designed to give qualified and institutional investors blockchain-based exposure to that strategy. SBI Asset Management is in charge of managing the investment strategy behind JX. In comments cited alongside the launch, the Solana Foundation said the rollout shows Japan’s asset management industry has formally entered on-chain finance. The foundation also said the tokenized real-world asset, or RWA, market has expanded from $5.9 billion last year to $21.9 billion. The update was reported by Cointelegraph and carried by Odaily.