SBI and Solana Foundation to Launch Japan Onchain Market JV

SBI Holdings and the Solana Foundation announced they will form a joint venture called SBI Solana Global after the Solana Foundation took an equity stake in SBI R3 Japan, the companies said in a Monday statement.

Under the plan, SBI R3 Japan will adopt the trade name SBI Solana Global and work with shareholders SBI Holdings and Sumitomo Mitsui Financial Group to build onchain financial infrastructure and services in Japan. The venture will support issuance and distribution of stablecoins, including JPYSC, and will handle structuring and distribution of tokenized real-world assets such as corporate bonds, commercial paper, investment funds and real estate.

SBI Solana Global will develop cross-border settlement infrastructure and provide onchain financial services for institutional investors. The company intends to create payment infrastructure for AI agents and other automated services, with products implemented on the Solana blockchain.

The announcement follows SBI’s recent launch of JPYSC, a yen-denominated stablecoin backed by a trust bank, and a separate product rollout planned through SBI VC Trade. From July 16, SBI will accept applications for a 12-week lending product offering a 3% annual yield on JPYSC deposits.

SBI has increased its investments in the crypto sector in recent months. The group was the sole investor in Gauntlet’s $125 million Series C, participated in EDX Markets’ $76 million Series C, and completed the acquisition of Japanese crypto exchange Bitbank for about $289 million in June.

SBI Solana Global will combine onchain token issuance and distribution functions with traditional financial structuring to enable tokenized versions of existing securities and assets. The venture is positioned to expand institutional access to digital assets and to create rails for faster, lower-cost cross-border transfers using Solana’s technology stack.

The companies did not provide a detailed timeline for product rollouts or for any required regulatory approvals. Shareholder alignment will include SBI Holdings and Sumitomo Mitsui Financial Group alongside the Solana Foundation’s stake in the newly rebranded entity.