SBI Holdings' blockchain initiative pivots to Solana for tokenization, stablecoin issuance
Japanese financial giant SBI Holdings is shifting its blockchain strategy from Corda to the Solana network. The initiative aims to facilitate stablecoin issuance and real-world asset tokenization to connect Japan's markets to global liquidity.
Why it matters
This marks a major institutional adoption of a public blockchain for regulated financial services in Asia.
Japanese asset giant SBI Holdings' (8473) blockchain initiative is turning to Solana for its stablecoin and real-world asset (RWA) tokenization efforts.
SBI Solana Global, previously 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 Japan-originated digital assets, the collaboration aims to establish Japan as a core hub for onchain finance in Asia," SBI Holdings said in the statement.
SBI Holdings lists supporting the issuance and distribution of stablecoins, supporting the structuring and distribution of tokenized RWAs and developing payment infrastructure for AI agents among the venture's functions.
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