Key Takeaways
- • SBI Group, DigiFT, and Startale Group completed proof-of-concept trials demonstrating JPYSC (Japanese yen stablecoin) as a settlement layer for tokenized securities on Ethereum testnet, addressing a critical gap in digital capital markets infrastructure.
- • The SBI Japan High Dividend Equity Fund, valued at approximately $1.3 billion (¥200 billion) in assets under management, will be tokenized using JPYSC, creating a real-world deployment case for automated settlement and dividend distribution.
- • Two distinct trials proved near-instant settlement finality for fund subscriptions and automated, on-chain dividend distributions via smart contracts, reducing counterparty risk and eliminating multi-day settlement cycles that plague traditional banking infrastructure.
- • The initiative positions JPYSC as a regulated trust-based settlement layer capable of supporting the complete lifecycle of tokenized real-world assets (RWAs), bridging the operational gap between blockchain infrastructure and traditional capital market mechanics.
Summary
SBI Group, DigiFT, and Startale Group announced a joint initiative on July 16, 2026, demonstrating how JPYSC, a trust-based Japanese yen stablecoin, can function as a settlement layer for tokenized securities. The collaboration addresses a fundamental bottleneck in the digital asset ecosystem: while tokenized real-world assets have expanded rapidly, actual cash settlements and dividend payouts continue to rely on slower traditional banking infrastructure.
The partnership successfully completed two proof-of-concept trials conducted on an Ethereum testnet environment. The first trial showcased near-instant settlement finality for tokenized fund subscriptions, bypassing traditional multi-day settlement cycles and reducing counterparty risk while improving capital efficiency. The second trial demonstrated automated dividend distribution through smart contracts that directly calculate and pay dividends to eligible token holders' wallets once a distribution registry is finalized.
As a primary deliverable, SBI Group and DigiFT plan to tokenize the SBI Japan High Dividend Equity Fund, a top-tier Japanese public equity strategy managed by SBI Asset Management. The fund holds approximately $1.3 billion (¥200 billion) in assets under management, providing a substantial real-world deployment vehicle for the JPYSC settlement model. This tokenization effort represents a significant step toward establishing digital capital markets infrastructure that maintains regulatory compliance while achieving operational efficiency gains.
The initiative demonstrates that JPYSC can support the complete lifecycle of tokenized securities—from subscription through settlement to automated distributions—without requiring reliance on traditional banking infrastructure for these critical functions. By establishing JPYSC as a regulated settlement layer, the three parties have outlined a template for integrating blockchain-based operations with institutional-grade asset management at scale.
The partnership successfully completed two proof-of-concept trials conducted on an Ethereum testnet environment. The first trial showcased near-instant settlement finality for tokenized fund subscriptions, bypassing traditional multi-day settlement cycles and reducing counterparty risk while improving capital efficiency. The second trial demonstrated automated dividend distribution through smart contracts that directly calculate and pay dividends to eligible token holders' wallets once a distribution registry is finalized.
As a primary deliverable, SBI Group and DigiFT plan to tokenize the SBI Japan High Dividend Equity Fund, a top-tier Japanese public equity strategy managed by SBI Asset Management. The fund holds approximately $1.3 billion (¥200 billion) in assets under management, providing a substantial real-world deployment vehicle for the JPYSC settlement model. This tokenization effort represents a significant step toward establishing digital capital markets infrastructure that maintains regulatory compliance while achieving operational efficiency gains.
The initiative demonstrates that JPYSC can support the complete lifecycle of tokenized securities—from subscription through settlement to automated distributions—without requiring reliance on traditional banking infrastructure for these critical functions. By establishing JPYSC as a regulated settlement layer, the three parties have outlined a template for integrating blockchain-based operations with institutional-grade asset management at scale.
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