Japanese Bank and Singapore Fintechs Team Up on Multicurrency Settlement Network
The three signed a memorandum of understanding to explore how tokenized deposits in multiple currencies could streamline international transactions.
Instead of relying on slow correspondent banking networks, the project envisions real-time settlement using blockchain rails.
SBI Shinsei will focus on issuing deposits, DeCurret will connect its DCJPY system, and Partior will integrate yen into its existing infrastructure, which already supports U.S. dollars, euros, and Singapore dollars for banks such as JPMorgan, DBS, and Deutsche Bank.
For DeCurret, the deal marks an expansion of its yen-based tokenized deposits into a broader multi-currency framework. For Partior, it extends its reach deeper into Asia while testing whether tokenized deposits can scale into a global settlement system.
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The partnership echoes global experiments like the BIS’s Project Agora — which links commercial bank deposits and wholesale central bank money — and Singapore’s Project Guardian, where institutions test tokenization across securities, lending, and forex. Both efforts highlight how regulators and banks alike are preparing for an era of programmable money that moves instantly across borders.
If successful, SBI Shinsei and its partners could create an always-on network for clearing and settlement — one that reduces costs, cuts intermediaries, and brings tokenized finance a step closer to the mainstream.
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