SBI Holdings and Solana Foundation launch Japan's first on‑chain financial market

SBI Holdings and the Solana Foundation have created a joint venture, SBI Solana Global (formerly SBI R3 Japan), to build Japan’s first regulated on‑chain financial market. Backed by SBI Holdings and Sumitomo Mitsui Financial Group, the new entity will focus on issuing and distributing stablecoins such as the yen‑backed JPYSC, tokenizing real‑world assets—including corporate bonds, funds and real‑estate—and developing cross‑border settlement and institutional on‑chain finance services on the Solana blockchain.

The partnership follows a period of heightened activity on Solana’s network. Recent analytics show Solana processing 1,635 transactions per second, surpassing other blockchains, and recording over 1 billion non‑vote transactions in a single week. Weekly active wallet addresses rose from 16.8 million to 29.7 million, and 24‑hour trading volume reached $1.43 billion, keeping the SOL price around $76. Despite the strong on‑chain metrics, the token’s price remained largely flat on the announcement day.

Analysts view the venture as a strategic move to position Japan as a hub for on‑chain finance in Asia, linking the country’s mature regulatory framework with Solana’s high‑throughput, low‑cost blockchain infrastructure.