SBI Group Joins Forces With Chainlink to Expand Tokenized Assets and Stablecoin Use in Japan

Chainlink’s LINK token fell in step with broader crypto weakness on Monday, sliding more than 6% in 24 hours to about $24.40, despite the unveiling of a significant partnership with Japan’s SBI Group. The decline marked a reversal from Friday’s peak above $27, its highest level this year.

Technical indicators showed LINK’s drop was accompanied by a series of lower highs across sessions, with volume tapering off in the final trading hour — a sign of potential short-term consolidation, according to CoinDesk Research.

SBI, one of Japan’s largest financial conglomerates, said it will work with Chainlink to develop tokenized asset and stablecoin infrastructure, using the network’s Cross-Chain Interoperability Protocol (CCIP) to enable compliant transfers across blockchains. The two firms also plan pilots around tokenized funds, with NAV data brought on-chain, and will test PvP settlement mechanisms for FX and cross-border payments. Chainlink’s Proof of Reserve will provide stablecoin collateral verification.

The tie-up builds on the companies’ earlier collaboration under Singapore’s Project Guardian, an initiative led by the Monetary Authority of Singapore (MAS) to study blockchain applications in finance.

Market and Technical Snapshot

Resistance tested at $26.61 before reversing on heavy trading volumes.
Support seen at $24.37, where buyers stepped in.
Peak trading activity hit 7.85M LINK, far above the daily average of 2.68M.
Persistent lower-highs pattern suggests ongoing bearish momentum.

While price action remains weak, analysts say the SBI deal highlights Chainlink’s growing foothold in institutional tokenization efforts, which could provide long-term support once risk sentiment improves across crypto markets.