SBI and Solana Foundation Team Up to Build Onchain Financial Market in Japan

SBI Holdings and the Solana Foundation have announced a strategic partnership to build an onchain financial market based in Japan, with the Solana Foundation taking a stake in SBI R3 Japan. As part of the deal, SBI R3 Japan will be rebranded as SBI Solana Global, working alongside shareholders SBI Holdings and Sumitomo Mitsui Financial Group under a new growth strategy.

What the Venture Will Cover

According to SBI’s statement, SBI Solana Global will support the issuance of stablecoins, including the group’s yen-pegged JPYSC token, along with structuring tokenized real world assets such as corporate bonds, commercial paper, funds, and real estate. The venture also plans to build cross-border settlement infrastructure, offer onchain financial services for institutional investors, and develop payment systems designed for AI agents, all running on the Solana blockchain.

Part of a Broader Stablecoin Push

The announcement follows closely behind SBI’s recent launch of JPYSC, Japan’s first trust bank backed yen stablecoin. The group separately confirmed it will open applications on July 16 for a 12-week lending product offering 3% annual yield on JPYSC deposits through SBI VC Trade.

SBI’s Growing Crypto Investments

SBI has been expanding rapidly into digital assets in recent months, becoming the sole investor in Gauntlet’s $125 million funding round and EDX Markets’ $76 million round last week. In June, the group also acquired Japanese exchange Bitbank for close to $289 million as part of its wider onchain finance strategy.