SBI, DigiFT, and Startale Launch PoC for Stock Fund Using JPYSC Token

Key Points of This Article

• Verification on Ethereum's testnet
• Technical validation conducted through two axes: application settlement and distribution payment

Testing Settlement and Distribution with JPYSC Token

On the 15th, SBI Global Asset Management Co., Ltd. announced that it has commenced a testnet Proof of Concept (PoC) for the settlement and distribution of a tokenized Japanese stock fund in collaboration with DigiFT Tech Pte. Ltd. and Startale Group Pte. Ltd. in Singapore.

Using a verification token based on the specifications of the yen-denominated stablecoin "JPYSC," the technical validation will be conducted on Ethereum's testnet from two perspectives: on-chain settlement at the time of fund application and payment of distributions to holders.

If realized, this could lead to the possibility of processing securities transaction settlements, which typically take multiple business days, in seconds, and the verification of a system that allows for programmable and immediate payment of distributions.

Roles of Each Company

The roles of the three companies have also been outlined. SBI Global Asset Management will provide expertise related to Japanese stock funds and asset management, DigiFT will contribute knowledge regarding the operation of a tokenized securities platform based on Singapore's regulatory framework and the on-chainization of RWA products, and Startale will offer technical expertise related to blockchain infrastructure and yen-denominated stablecoins, forming a support system for this technical validation.

This PoC is solely for technical validation purposes and does not signify the launch of new services, the solicitation or sale of actual investment products, or the use of JPYSC for settlement and distribution on the mainnet. It is also not an initiative to encourage Japanese residents to open overseas accounts or invest on foreign platforms.

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