Japan's Financial Giant and Blockchain Builder Rival Time to Redefine Global Trading

SBI Holdings, a major Japanese financial conglomerate, has partnered with Startale Group to launch a revolutionary onchain trading platform for tokenized stocks and real-world assets. The platform aims to provide round-the-clock trading of tokenized stocks, faster cross-border settlements, and fractional ownership, catering to the needs of global investors. According to the joint venture announcement, the platform will leverage SBI's extensive financial ecosystem and Startale's blockchain infrastructure to address gaps in traditional tokenized stock offerings. The collaboration includes the establishment of two joint venture companies: one focused on core technology development and the other on brand and business expansion. Sota Watanabe, Founder of Startale Group, highlighted the platform's potential to enable continuous, programmable trading of tokenized stocks, including U.S. and Japanese native stocks, as traditional markets remain closed 70% of the time [3].

The initiative represents a significant step in the evolution of blockchain-based financial infrastructure, with SBI Holdings and Startale aiming to digitize multiple financial instruments such as stocks, bonds, and exchange-traded funds (ETFs) under a unified platform. Executives have emphasized that the project seeks to eliminate intermediaries and streamline settlement processes using blockchain technology, offering faster transactions and lower costs. Tokenized equities, tied directly to real stock values, are expected to provide increased accessibility for overseas investors while enhancing efficiency in domestic markets [4]. SBI’s customer base, numbering over 50 million across its banking and securities divisions, is seen as a catalyst for adoption, potentially positioning Japan as a leader in blockchain-powered capital markets. The venture reflects global momentum in tokenized assets, with platforms like Robinhood and Kraken already expanding their offerings into tokenized U.S. stocks via blockchain.

The platform is expected to integrate tokenized stocks with DeFi protocols and incorporate advanced features such as account abstraction, institutional custody, and real-time compliance monitoring with international regulations [3]. While a specific launch date has not yet been announced, the project aligns with broader institutional efforts to expand tokenized offerings, as projected by a joint report from Ripple and the Boston Consulting Group. This report forecasts the tokenized asset market to grow to as much as $18.9 trillion by 2033. The strategic move is also part of Japan’s broader digital finance advancements, including recent regulatory approval of the country’s first fiat-linked stablecoin. These developments indicate an increasing openness to financial innovation within Japan’s regulatory landscape.

Meanwhile, the tokenization of real-world assets (RWA) continues to gain traction globally. Kraken and Backed Finance have expanded their xStocks platform to the Tron blockchain, allowing users to trade tokenized stocks as TRC-20 tokens. The platform has seen significant adoption, with over $2.5 billion in combined decentralized and centralized exchange volume since its launch in late June 2025. By mid-July, xStocks accounted for over 65% of the tokenized stocks market [2]. The expansion to Tron is driven by the blockchain’s scalability, low transaction costs, and global reach, which align with the demand for high-speed, low-cost on-chain transactions in tokenized securities trading. The integration is expected to broaden the circulation channels for tokenized stocks through ecosystem partners supported by TRON DAO [1].

The growing tokenization market has seen substantial growth in 2025, with the RWA tokenization market increasing from $15.6 billion to $26.4 billion between January and July 2025 [1]. Institutional confidence in blockchain infrastructure is evident as more traditional financial institutions explore the utility of layer 1 networks like Tron and Ethereum. Ethereum remains the dominant blockchain in DeFi activity, holding a total value locked (TVL) of $89 billion, while Tron ranks fifth with $6.2 billion TVL. Despite a 15% drop in Tron’s TVL year-to-date, the blockchain continues to attract attention for its performance and potential in RWA tokenization.

As the market continues to evolve, the integration of tokenized stocks with DeFi protocols and cross-chain interoperability is expected to reshape traditional financial systems. SBI Holdings’ initiative, alongside Kraken’s xStocks expansion and similar projects, underscores the potential of blockchain technology to transform equity trading and asset management. With institutional interest and technological advancements converging, the tokenized stock market is approaching a major inflection point, potentially reshaping global capital markets in the coming years [1].

Source:

[1] Kraken, Backed Expand Tokenized Stocks Product to Tron (https://cointelegraph.com/news/kraken-backed-expand-tokenized-stocks-to-tron-ecosystem-amid-rwa-push)

[2] xStocks Tokenized Stocks to Launch on TRON (https://coinspaidmedia.com/news/xstocks-tokenized-stocks-launch-tron/)

[3] Japan's SBI Holdings taps Startale to launch onchain (https://www.theblock.co/post/367886/sbi-holdings-startale-tokenized-stock-platform?utm_medium=rss&utm_source=markets.xml)

[4] SBI Holdings Advances Toward Stock Tokenization (https://www.cointrust.com/market-news/sbi-holdings-advances-toward-stock-tokenization)