SBI, DigiFT, and Startale Group Tokenize $1.3 Billion Equity Fund Using JPYSC Stablecoin
SBI Group, DigiFT, and Startale Group have completed a joint proof-of-concept (PoC) demonstrating the end-to-end lifecycle of tokenized securities using the JPYSC stablecoin. The trials, conducted on an Ethereum testnet, showed instant settlement for fund subscriptions and automated on-chain dividend payouts, bypassing traditional banking delays.
The initiative aims to tokenize the SBI Japan High Dividend Equity Fund, managed by SBI Asset Management, which holds approximately $1.3 billion (¥200 billion) in assets under management. The PoC addressed a key bottleneck in digital capital markets: while tokenized real-world assets (RWAs) have grown, cash settlement and dividend distribution still rely on slower traditional infrastructure. By integrating JPYSC as a regulated settlement layer, the firms demonstrated near-instant finality and continuous automated operations.
Two distinct demonstrations were conducted. The first showed how JPYSC could reduce multi-day settlement cycles, improving capital efficiency and reducing counterparty risk. The second used smart contracts to automatically calculate and distribute dividends to token holders after a distribution registry was finalized.
Tomoya Asakura, CEO of SBI Global Asset Management, said the technologies could streamline operations and enhance investor experience. Sota Watanabe, CEO of Startale Group, noted that regulated stablecoins like JPYSC can power everything from instant settlement to programmable dividend distribution. Henry Zhang, founder and CEO of DigiFT, emphasized that interoperability is critical for institutional tokenization.
Looking ahead, the three firms plan to explore integrating tokenized Japanese equities with institutional DeFi platforms, including potential collaborations with Morpho and Gauntlet for collateralized lending and programmable asset management within regulated frameworks.