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Japanese Bank Dives Into Tokenized Payments
SBI Shinsei Bank is stepping into blockchain-powered payments. The bank signed a deal with Singapore’s Partior and Japan’s DeCurret to test tokenized deposits in multiple currencies.
The partners will build a settlement network that clears transactions in real time, aiming to make payments faster and cheaper than traditional banking.
From Yen to Global Currencies
DeCurret already runs the DCJPY platform, which lets banks issue deposits in digital yen. Now SBI Shinsei wants to go beyond yen, exploring tokenized deposits in US dollars, euros, and other major currencies.
Partior, backed by JP Morgan, DBS, Deutsche Bank, and Standard Chartered, already handles multicurrency settlement. Adding the Japanese yen would expand its global reach.
Always-On Global Network
The new system would run 24/7. SBI Shinsei will handle issuance, DeCurret will link its DCJPY platform, and Partior will integrate yen support.
If it works, this blockchain-based model could replace correspondent banking, where one bank holds accounts for another. Distributed ledger tech promises faster transfers and lower costs.
Global Tokenization Push
This project aligns with international experiments. The Bank for International Settlements (BIS) is testing Project Agora to connect tokenized deposits and central bank money.
Meanwhile, Singapore’s central bank is running Project Guardian, which focuses on using tokenization to improve forex, lending, and trading.
