RWA tokenisation continues to scale, with on-chain value (excluding stablecoins) reaching roughly $39 - 46 billion by late October 2026 across major trackers, driven by growing participation from traditional institutions. This partnership between @EmberProtocol & SBI Digital Markets takes same pattern where TradFi continues to come onchain. SBI Digital Markets (part of Japan’s SBI Holdings) brings institutional asset origination, structuring, regulated distribution and client reach, while Ember supplies the tokenisation, vault and liquidity infrastructure. Together they are exploring the full product life cycle, structuring, issuance, subscription, redemption, settlement and secondary-market access, initially on Arbitrum. Arbitrum was chosen as a finance-native environment that already hosts active capital and participants, giving new institutional products a clearer path to distribution from day one. This is the kind of practical TradFi-onchain collaboration that is becoming more common as tokenised Treasuries, credit, funds and other assets expand beyond early pilots. The memorandum of understanding keeps the focus on responsible execution rather than anything else. Congratulations team.