Japan’s SBI Shinsei eyes tokenized crypto payments with new partnership

SBI Shinsei Bank, DeCurret and Partior will develop a blockchain-based settlement system for tokenized deposits in Japanese yen and other major currencies.

Japan’s SBI Shinsei Bank has partnered with Singapore-based Partior and Japan’s DeCurret DCP to explore multicurrency tokenized deposits for cross-border transactions.

The three signed a Memorandum of Understanding (MoU) on Tuesday, aiming to develop a blockchain-based settlement framework that supports real-time clearing in multiple currencies, according to an announcement.

DeCurret currently operates the DCJPY platform, which allows banks in Japan to issue yen-denominated tokenized deposits. SBI Shinsei plans to expand beyond the Japanese yen, aiming to issue tokenized deposits in other major currencies to meet the growing demand for faster international payments.

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