SBI Holdings and the Solana Foundation have reached a strategic partnership to jointly develop Japan's on-chain financial market

BlockBeats News, July 13th - Japanese financial group SBI Holdings announced a strategic partnership with the Solana Foundation to jointly build a Japan-centric on-chain financial market. As part of the collaboration, the Solana Foundation will acquire a stake in SBI R3 Japan, which will be renamed SBI Solana Global in the future.

According to the announcement, SBI Solana Global will be based on the Solana blockchain to support the issuance and circulation of stablecoins, including the Japanese Yen stablecoin JPYSC. It will also promote the tokenization and distribution of real-world assets (RWA) such as corporate bonds, commercial paper, funds, real estate, while developing cross-border settlement infrastructure, on-chain financial services for institutional investors, and payment infrastructure serving AI Agents.

Furthermore, SBI also announced that on July 16th, it will launch a JPYSC savings product application through SBI VC Trade, offering a 3% annualized yield. Recently, SBI has made consecutive investments in Gauntlet, EDX Markets, and completed the acquisition of the Japanese cryptocurrency exchange Bitbank, continuing to strengthen its presence in the DeFi space.