Summary
SBI Solana Global (formerly SBI R3 Japan) is a joint venture that brings together SBI Holdings, Sumitomo Mitsui Financial Group (SMFG), and the Solana Foundation to build Japan's first onchain financial market. The venture represents a strategic pivot from Corda (R3's permissioned blockchain) to Solana's public layer-1 network, signaling a major shift in institutional blockchain strategy in Japan.
Key Points
- Shareholders: SBI Holdings, Sumitomo Mitsui Financial Group (SMFG), Solana Foundation
- Name change: SBI R3 Japan → SBI Solana Global (pending corporate process)
- Previous tech: Corda (R3 permissioned blockchain) — now pivoting to Solana
- Product roadmap:
- Stablecoin issuance and distribution (JPYSC yen stablecoin)
- Tokenized corporate bonds, commercial paper, investment funds, real estate
- Cross-border payment infrastructure
- Institutional onchain financial services
- AI agent payment infrastructure
- Strategic goal: "Establish Japan as a core hub for onchain finance in Asia"
- JPYSC context: Launched June 24, 2026 as trust-structured yen stablecoin
- SBI's broader digital asset strategy:
- Acquiring Bitbank for ~$289M
- Working with Ripple on RLUSD stablecoin in Japan
- SBI VC Trade launching JPYSC lending at 3% yield (July 16, 2026)
- Regulatory context: Japan classified crypto as financial instruments (April 2026); PM Takaichi pledged support for Web3 startups