SBI Holdings said on September 30 that it had agreed with Mesh, a San Francisco-based crypto payments network, and Money Forward, a Japan-based fintech and software-as-a-service company, to set up a joint venture in Japan to develop digital asset connectivity and payments infrastructure, subject to definitive agreements and regulatory approvals.

The venture is set to launch in Q4 2026 and would focus on five areas, including account connectivity between cryptocurrency exchanges and digital wallets, onboarding and transaction workflows, infrastructure for regulated stablecoins, tokenized assets, and cross-border integration.

The companies said they would also assess expansion across the broader Asia-Pacific region.

The plan would sit within Japan’s existing crypto regime, where stablecoin activity is covered by a Financial Services Agency framework for crypto-assets and stablecoins.

It also extends SBI’s broader digital-asset push, with its blockchain initiative having pivoted to Solana for tokenization and stablecoin issuance.

Separately, Money Forward said its payments unit, Money Forward Kessai, had reached 1 trillion yen (US$6.37 billion) in cumulative transaction volume.

🔗 Source: Mesh

Recent SBI Holdings developments