Japanese asset giant SBI Holdings’ blockchain initiative (8473) 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 Monday post on its website.
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 originated in Japan, the collaboration aims to establish Japan as a central hub for on-chain finance in Asia,” SBI Holdings said in the statement.
SBI Holdings lists among the company’s functions supporting the issuance and distribution of stablecoins, supporting the structuring and distribution of tokenized RWAs, and developing payment infrastructure for AI agents.
The blockchain initiative previously focused on Corda, the permissioned blockchain developed by R3.
SBI Holdings has been active in expanding its digital assets business in recent months, agreeing to buy Japanese cryptocurrency exchange Bitbank last month for around $289 million.
