SBI Group, Japan's largest financial firm and Ripple partner, has announced a new collaboration with Chainlink to advance digital assets in the financial sector.
Goals of the Partnership between SBI Group and Chainlink
SBI Group and Chainlink stated their intention to promote the use of digital assets among financial institutions in the Asia-Pacific region. The partners aim to develop several use cases, including the tokenization of real-world assets, cross-chain interoperability, and on-chain NAV data transmission.
Application of Chainlink Technologies for Asset Tokenization
Under the partnership, the companies plan to utilize Chainlink’s Cross-Chain Interaction Protocol (CCIP), SmartData, and Proof of Reserves to support cross-chain tokenization of real-world assets.
Comment from Chainlink Co-Founder Sergey Nazarov
Chainlink Co-Founder Sergey Nazarov commented, "The SBI team was great to work with. They are one of the most forward-thinking and technically advanced groups in the blockchain industry. We've been building some pretty advanced fund tokenization and stablecoin DvP use cases with SBI for a while now, and I'm excited to see our great work progress into production use at scale."
The partnership between SBI Group and Chainlink highlights the growing interest in digital assets within the financial sector, as well as the importance of technology for integration and reliability in transactions.
