SBI Shinsei Bank, Partior, and DeCurret DCP are launching a study on cross-border settlements using tokenized deposits.
Japanese companies SBI Shinsei Bank and DeCurret DCP, together with Singapore-based Partior, signed a Memorandum of Understanding (MoU) to build a strategic partnership aimed at conducting large-scale research and subsequent implementation of innovative solutions for multi-currency settlement and clearing using tokenized deposits and distributed ledger technology (DLT).
SBI Shinsei Bank intends to expand its services for corporate clients by considering the issuance of tokenized deposits not only in Japanese yen (DCJPY) but also in other currencies. The initiative will use the DeCurret DCP platform to issue JPY-denominated deposits and integrate them with Partior’s international infrastructure, which is already utilized by banks such as DBS, JPMorgan, Standard Chartered, and Deutsche Bank. This will create an environment for fast and transparent multi-currency settlements.
According to the MoU, each party will take on specific roles:
- SBI Shinsei Bank will conduct research into issuing tokenized deposits in yen and other currencies to meet diverse client needs.
- Partior will add the Japanese yen to its list of supported currencies, which already includes the U.S. dollar, the euro, and the Singapore dollar, thereby enhancing the functionality and convenience of its platform.
- DeCurret DCP will integrate yen-denominated tokenized deposits into the Partior network, enabling real-time cross-border settlements between the yen and other currencies, even when closed internal blockchain systems are used.
The partnership highlights the growing interest in DLT solutions and tokenized assets within the global financial industry as tools for improving efficiency and reducing costs in cross-border payments. The project is expected to establish a new standard for international currency operations, increasing both efficiency and transparency.
Financial regulators in Japan and Singapore have been collaborating for three years under the Project Guardian initiative, jointly exploring various aspects of asset tokenization technology and its potential use cases in financial markets.
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