Japan's On-Chain Finance Future
SBI Solana Partnership Aims to Build Japan's First Regulated On-Chain Financial Market
Anonymous
Key Points
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The alliance will be restructured under the name SBI Solana Global, integrating SBI Holdings, SMFG, and the Solana Foundation with SBI R3 Japan as a connected entity.
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The program targets yen-backed stablecoins (JPYSC) and the tokenization of real-world assets such as corporate bonds, commercial paper, funds, and real estate, aiming to roll these out from Japan into Asia and then global markets.
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SBI’s broader on-chain strategy includes investments in DeFi risk-management platform Gauntlet and in regulated trading venue EDX Markets, signaling a group-wide push to build end-to-end blockchain financial infrastructure.
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SBI is expanding its asset-tokenization and exchange infrastructure through notable investments and acquisitions—Bitbank for about $289 million, a controlling stake in Coinhako, plus stakes in Digital Asset, Morpho, and Circle’s Arc—alongside launching the JPYSC stablecoin.
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Japan’s evolving crypto regulation—plans to classify crypto assets as financial instruments, create ETF pathways, and reduce capital gains tax from 55% to 20%—is highlighted as enabling broader institutional participation in tokenization.
SBI Holdings and the Solana Foundation are building Japan's first regulated on-chain financial market, the companies announced this week. The partnership will restructure their existing joint venture as SBI Solana Global, bringing together SBI, Sumitomo Mitsui Financial Group (SMFG), and the Solana Foundation under one roof, according to CoinDesk.
The venture plans to issue a yen-backed stablecoin called JPYSC and tokenize real-world assets — things like corporate bonds, commercial paper, and real estate. The goal is to launch from Japan, expand across Asia, then go global, Crypto Economy reported.
SBI Solana Global Will Issue Yen Stablecoins and Tokenized Assets
SBI R3 Japan, an existing SBI joint venture, will be renamed SBI Solana Global after the Solana Foundation buys into the company. The new entity will run on Solana's blockchain network. Cryptopolitan reported that the company will be used to move Japanese stablecoins and digital assets across borders.
The JPYSC stablecoin will be backed by the Japanese yen. Alongside it, the venture will tokenize assets such as funds, corporate bonds, and real estate. These are "real-world assets" — traditional financial instruments put onto a blockchain so they can be traded digitally. CryptoNews noted that the rollout targets Asian and global markets beyond Japan.
Japan's Friendlier Crypto Rules Are Enabling the Push
Japan's government is actively rewriting its crypto rules to attract big financial players. Plans include classifying crypto assets as proper financial instruments, creating pathways for crypto ETFs, and slashing the capital gains tax on crypto from 55% to just 20%. That tax cut alone could be a game-changer for institutional investors.
Crypto Economy highlighted that this supportive environment is exactly what makes Japan the right base for this initiative. SBI and Solana want Japan to become a leading hub for on-chain finance in Asia. The regulatory direction gives big banks and asset managers the confidence to participate at scale.
SBI Is Spending Big to Build an End-to-End Blockchain Ecosystem
The Solana partnership is just one piece of a much larger strategy. SBI spent roughly $289 million to acquire crypto exchange Bitbank. It also took a controlling stake in Singapore-based exchange Coinhako. On top of that, SBI made investments in Digital Asset, Morpho, and Circle's Arc product, according to CoinDesk.
SBI also put money into Gauntlet, a DeFi risk-management platform, and bought a stake in EDX Markets, a regulated crypto trading venue. Each investment fills a gap — risk tools, trading infrastructure, stablecoin rails. Together, they form what SBI is calling a full, end-to-end blockchain financial system.
Solana Gains a Major Institutional Foothold in Japan
For the Solana Foundation, the deal is a significant win. Japan has one of the world's largest pools of household savings and a deep institutional finance sector. Plugging into that market through a regulated joint venture with SBI and SMFG gives Solana direct access to mainstream Japanese finance, CryptoNews reported.
Market observers see the move as a signal that blockchain infrastructure is moving from the fringes into regulated, institutional settings. SBI's strategy shows a clear pattern: buy the exchanges, build the stablecoins, manage the risk, and connect it all to global liquidity — using Solana as the backbone.
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