Cross-Border Payments Without Bridge Currency? – SBI-Chainlink use CCIP and Proof of Reserve to enable direct, secure global settlements.
SBI Group, one of Japan’s largest financial giants with over $200 billion in assets, has announced a major partnership with Chainlink, the leading oracle network in blockchain. The collaboration begins in Japan, known for its advanced financial system, and is expected to expand into global markets.
A survey by SBI Digital Asset Holdings recently showed that 76% of institutions are interested in tokenized securities. However, many hesitate due to weak infrastructure. The SBI-Chainlink partnership aims to solve this by building secure and reliable systems that allow institutions to confidently step into the world of digital assets.
The first focus will be on tokenizing real-world assets like real estate and bonds. With Chainlink’s Cross-Chain Interoperability Protocol (CCIP), institutions can move these assets securely across multiple blockchains while meeting compliance requirements.
Fund operations are also set to become smoother. By bringing Net Asset Value (NAV) data on-chain using Chainlink SmartData, asset managers will gain better liquidity, transparency, and efficiency.
The partnership also extends into stablecoins and cross-border transactions. With Chainlink’s Proof of Reserve, institutions can verify stablecoin reserves in real time, ensuring trust and transparency.
On the payments side, CCIP will power payment-versus-payment (PvP) settlements for foreign exchange and international transfers. This development enables safer, faster, and compliance-friendly cross-border transactions. Notably, these transfers can be settled without using a bridge currency like XRP or USDT, marking a major shift in how global payments may evolve.
Chainlink co-founder Sergey Nazarov praised SBI as one of the most forward-thinking companies in the blockchain space, highlighting its role in advancing tokenization and stablecoin settlement projects.
SBI CEO Yoshitaka Kitao echoed this view, describing Chainlink as a “natural partner” capable of delivering secure and compliant solutions for cross-border finance.
This is not the first time the two groups have worked together. In Singapore, under Project Guardian, SBI Digital Markets, Chainlink, and UBS Asset Management successfully tested automated fund administration. That achievement laid the groundwork for today’s larger-scale partnership.
Crypto analyst Zach Rynes pointed out a striking detail from the announcement: with CCIP, cross-border payments can happen directly through PvP settlement, eliminating the need for a middle currency. This innovation could reshape global finance and further boost institutional adoption of blockchain technology.
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