SBI Holdings and the Solana Foundation announced a strategic collaboration to build an onchain financial market from Japan, with Solana Foundation taking a stake in SBI R3 Japan as part of the joint venture.
The partnership will see SBI R3 Japan adopt the planned trade name SBI Solana Global and pursue a new growth strategy alongside shareholders SBI Holdings and Sumitomo Mitsui Financial Group, according to a company statement on Monday.
SBI said SBI Solana Global will support the issuance and distribution of stablecoins, including JPYSC, the group's yen-denominated stablecoin, alongside the structuring and distribution of tokenized real-world assets such as corporate bonds, commercial paper, funds, and real estate. The company also plans to develop cross-border settlement infrastructure.
The venture will also provide onchain financial services for institutional investors and develop payment infrastructure designed for AI agents, with its products built on the Solana blockchain.
The announcement comes weeks after SBI launched JPYSC, Japan's first trust bank-backed yen stablecoin. The group said separately on Monday it will begin accepting applications on July 16 for a 12-week lending product offering a 3% annual yield on JPYSC deposits through SBI VC Trade.
