SBI Holdings and Solana Foundation Partner to Advance Japan’s Onchain Financial Markets

Japanese financial services group SBI Holdings has partnered with the Solana Foundation to develop a Japan-led on-chain financial market, expanding efforts to bring regulated financial activities onto blockchain infrastructure.

As part of the agreement, the Solana Foundation will join SBI R3 Japan, which will be renamed SBI Solana Global. The initiative will be supported by SBI Holdings and Sumitomo Mitsui Financial Group (SMFG), one of Japan’s major banking groups.

The partnership will focus on the development of JPY-denominated stablecoins, tokenized real-world assets including funds, bonds, and real estate, cross-border payment infrastructure, and blockchain-based services for institutional users.

SBI said the collaboration is intended to connect Japan’s regulated financial markets with global blockchain liquidity and strengthen the country’s role in the growth of on-chain finance across Asia.

Source: SBI Group