Japan's SBI Group is building Asia's first cross-border digital asset empire
Reported by CoinDesk · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Japan's SBI Group has made significant moves to establish Asia's first comprehensive cross-border digital asset network. The company acquired a majority stake in Singapore-based crypto platform Coinhako, which holds a Major Payment Institution license from the Monetary Authority of Singapore. This acquisition is part of SBI's broader vision to create a global digital asset corridor by linking crypto exchanges worldwide. SBI also announced partnerships with Ondo Finance to tokenize Japanese equities and other assets, using its yen-based stablecoin, JPYSC, for settlement, although the stablecoin currently cannot be transferred to external wallets or used across public blockchains.
In addition, SBI partnered with the Solana Foundation, which will take an equity stake in SBI R3 Japan, leading to the formation of SBI Solana Global. This new entity will focus on issuing stablecoins and tokenizing real-world assets such as corporate bonds and real estate, aiming to integrate traditional financial markets with blockchain infrastructure. Analysts highlight that SBI's long-term strategy is to control the entire digital asset value chain—from issuance and settlement to trading and asset management—across Asia rather than just within Japan. A key strategic target is developing yen-based on-chain settlements.
Why it matters
SBI’s expansion also includes its anticipated acquisition of Tokyo-based crypto exchange Bitbank for approximately $289 million, pending regulatory approval. This follows SBI’s earlier purchase of another exchange, Bitpoint, in 2022. Furthermore, SBI led a $76 million funding round for institutional crypto exchange EDX Markets and a $25 million investment in crypto risk management firm Gauntlet. SBI’s spokesperson emphasized that these moves reflect a long-term infrastructure development strategy, anticipating growing institutional and retail adoption of digital assets.
While JPYSC is currently limited to use within SBI’s own platform and does not yet support withdrawals to external wallets, SBI's steady investment trajectory signals confidence in blockchain as foundational financial infrastructure. Comments from industry figures suggest Japan is well-positioned to lead in this space due to its regulatory environment and support from established financial institutions. SBI's integrated approach across multiple digital asset services aims to create a new era of cross-border financial operations in Asia.