Japanese asset giant SBI Holdings’ (8473) blockchain initiative is turning to Solana for its stablecoin and real-world asset (RWA) tokenization efforts.
SBI Solana Global, formerly SBI R3 Japan, aims to use the network to connect Japan’s domestic market to global liquidity, according to a post on its website on Monday.
The SBI Solana Global joint venture, which also counts Sumitomo Mitsui Financial Group (SMFG) among its shareholders, now includes the Solana Foundation, the Zug, Switzerland-based organization that oversees the Layer 1 network.
“By creating a new market for digital assets of Japanese origin, the collaboration aims to establish Japan as a hub for blockchain finance in Asia,” SBI Holdings said in the statement.
Among the company’s functions, SBI Holdings supports the issuance and distribution of stablecoins, the structuring and distribution of tokenized RWAs, and the development of payment infrastructure for AI agents.
The blockchain initiative was previously focused on Corda, the permissioned blockchain developed by R3.
SBI Holdings has been actively expanding its digital assets business in recent months, agreeing to buy Japanese cryptocurrency exchange Bitbank last month for around $289 million.
