SBI Holdings and the Solana Foundation announced on July 13 a strategic collaboration focused on creating an on-chain financial market originating in Japan. The initiative seeks to integrate Solana's network infrastructure with the Japanese financial ecosystem, taking advantage of the country's advanced regulatory environment for digital assets.
As part of the agreement, SBI R3 Japan — a joint venture between SBI Holdings and Sumitomo Mitsui Financial Group (SMFG) — will operate under the provisional name SBI Solana Global. The change signals a new phase of growth, with the Solana Foundation acquiring a stake in the company alongside the existing shareholders.
The new structure will be based on the Solana blockchain, with a focus on the issuance and distribution of stablecoins, including JPYSC, a yen-pegged asset recently launched by SBI. In addition, the project includes the tokenization of real-world assets (RWA), such as corporate bonds, funds, commercial paper, and real estate, expanding access to digital financial products.
Another relevant pillar of the strategy involves building infrastructure for international settlements and on-chain financial services aimed at institutional investors. The proposal also includes the development of payment solutions adapted to the growing integration with artificial intelligence agents.
According to the companies, Japan has favorable characteristics for this type of initiative, with broad capital availability and a consolidated regulatory framework for crypto. The idea is to use the country as a starting point to connect the Solana network to markets in Asia and other regions.
The partnership adds to a series of SBI's recent moves in the cryptocurrency sector. In June, the group acquired Japanese exchange Bitbank for about US$ 289 million. It also participated as the sole investor in Gauntlet's US$ 125 million Series C round, in addition to leading the US$ 76 million investment in EDX Markets.
These initiatives indicate SBI's broad role in digital market infrastructure, encompassing institutional trading, risk management, and access to exchanges. With SBI Solana Global, the conglomerate adds a direct focus on stablecoin issuance and asset tokenization to its strategy.
The Solana Foundation highlighted the relevance of SMFG as a globally systemically important bank and said that the agreement aims to take "Japan's RWA and stablecoin markets to the world." No details were disclosed about the size of the acquired stake or timelines for launching the products.
