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- SBI aims to accelerate crypto adoption in Japan and Asia-Pacific.
- LINK’s derivatives open interest hits all-time highs amid bullish positioning.
- Technicals show LINK trading momentum with potential to reach $27–$28.
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Japan’s SBI Holdings is making a bold move to accelerate digital asset adoption in Asia by partnering with Chainlink, a leading decentralized oracle network. The collaboration aims to integrate blockchain solutions into mainstream financial services, signaling growing institutional interest in the region. With Chainlink’s Open Interest hitting all-time highs in August, the timing of this partnership couldn’t be more strategic.
SBI Bets Big on Chainlink
The partnership between SBI Holdings and Chainlink is designed to drive institutional adoption of crypto in Japan initially, with plans to expand across the Asia-Pacific. SBI intends to explore use cases such as tokenizing real-world assets (RWAs), including on-chain bonds and fund shares, while leveraging Chainlink’s oracle technology to verify stablecoin reserves.
This development coincides with Japan moving closer to approving its first yen-backed stablecoin. The initiative complements SBI’s existing collaborations with Circle (USDC), Ripple (XRP), and Startale, positioning the company as a hub for blockchain innovation in Asia.
Derivatives Momentum Fuels LINK
The timing of the partnership also aligns with surging interest in LINK’s derivatives market. Open Interest for Chainlink climbed to $875.7 million, marking a record high, according to Coinalyze data. Funding rates remain modest at 0.0142, reflecting balanced bullish positioning without extreme leverage.
Retail and institutional traders alike are driving demand, suggesting that the market is supported by genuine interest rather than speculative hype. If this momentum continues, LINK could see further upside, underpinned by strong fundamentals from strategic partnerships and innovative use cases.
LINK Maintains Uptrend Amid Resistance
At press time, LINK traded at $25.79, holding above its 9-day and 21-day SMAs, indicating sustained bullish momentum. The RSI sits at 64, suggesting strong but not overextended buying pressure, while the MACD confirms positive trends.
However, smaller-bodied candles over recent sessions hint at hesitation. If buyers regain momentum, LINK could test the $27–$28 zone in the near term. Conversely, a fallback to $25 support remains possible if selling pressure rises.
Also Read: SBI–Chainlink Deal Could Kill Bridge Currencies in Cross-Border Payments
SBI Holdings’ partnership with Chainlink marks a significant step in integrating blockchain into Japan’s financial ecosystem. With strong derivatives activity and promising technicals, LINK appears well-positioned to capitalize on both institutional adoption and market momentum.
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Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
