SBI Holdings’ Five-Layer On-Chain Financial Stack: “Tokenized Stocks and Bonds” Is the EndGame Goal
SBI Holdings CTO Kefei Lin publicly unveiled a five-layer on-chain financial stack architecture at the FinTechOn 2026 & AFA Summit, explaining that SBI spent four years restructuring its revenue model before ultimately eliminating Trading Fees on domestic stock trading in 2023. The move was initially estimated to reduce revenue by approximately ¥16 billion that year. However, the company achieved a Historical High in operating profit because its revenue structure had already completed its transi
Bisc·09-04 03:03
