SBI Holdings announced on July 13 that the Solana Foundation will acquire a stake in SBI R3 Japan, turning the entity into a new joint venture under the name SBI Solana Global. This move is set to support the migration of Japanese stablecoins, digital assets, and cross-border payments onto the Solana blockchain.
Strategic partnership strengthens digital finance expansion
With this strategic partnership, Sumitomo Mitsui Financial Group (SMFG), a major Japanese banking institution, will remain a shareholder alongside SBI Holdings and the Solana Foundation. The transition will see SBI R3 Japan rebranded as SBI Solana Global Co., Ltd., pending standard corporate procedures.
SBI Solana Global will develop five business lines based on the Solana network, including investments in stablecoins like the Japanese yen-pegged JPYSC. The company plans to launch tokenized Real-World Assets (RWAs) that may encompass corporate bonds, commercial paper, investment funds, and real estate.
In addition to these products, the joint venture aims to establish cross-border settlement infrastructure, on-chain institutional services, and payment systems designed for an anticipated era of AI-driven agents, SBI Holdings stated in the official press release.
SBI is aiming to create a unified platform managing issuance, distribution, and settlement, rather than focusing solely on blockchain provision for digital assets and payments.
Mini dictionary: Solana Foundation, a non-profit organization, supports development and adoption of the Solana blockchain, known for its high throughput and focus on decentralized finance applications.
Japan positioned as on-chain finance hub
SBI Holdings outlined ambitions for Japan to become a central hub for on-chain financial services in Asia, with plans to expand business offerings to other Asian and global markets.
The company did not provide revenue forecasts, identify client commitments, or disclose financial terms regarding the Solana Foundation’s stake. No specific overseas markets or additional banking partners were mentioned in the statement.
SBI’s products must still receive regulatory clearance under Japan’s cryptocurrency and securities regulations before launch.
SBI’s broader move into digital assets
The collaboration with Solana follows a series of digital asset initiatives by SBI Holdings. In March, SBI and blockchain developer Startale introduced a regulated yen stablecoin for payment and settlement services. Furthermore, SBI worked with Ripple to bring the dollar-pegged RLUSD stablecoin to Japan via its crypto subsidiary, SBI VC Trade, after obtaining relevant regulatory permissions. SBI continues to be Ripple’s largest domestic partner.
SBI Holdings is also in the process of acquiring Bitbank, a prominent Japanese cryptocurrency exchange, in a deal valued at 46.7 billion yen. Whether Bitbank or SBI VC Trade will offer SBI Solana Global’s new products has not been addressed.
Mini dictionary: Bitbank is a licensed Japanese cryptocurrency exchange, recognized for its large trading volumes and compliance with Japanese financial regulations.
Solana’s network momentum attracts institutional partners
By partnering with SBI, the Solana Foundation gains access to institutional finance within Japan’s expanding blockchain ecosystem. Solana’s network has recently reported $5.77 billion in tokenized asset spot volume and surpassed one billion transactions in a single week.
At the time of the announcement, Solana’s SOL token traded at approximately $76.35.
| Token / Network | Latest Trading Price | Recent Volume | Recent Transactions/Week |
|---|---|---|---|
| SOL (Solana) | $76.35 | $5.77 billion | 1 billion+ |
