The Japanese financial conglomerate SBI Holdings announced new partnerships with stablecoin issuer Circle, the fintech firm behind XRP, Ripple Labs, and the Web3 company Startale.
Expansion into the RWA Segment
In collaboration with Startale, SBI plans to create an on-chain platform for trading tokenized stocks and RWA products.
According to a press release, the platform will utilize the financial ecosystem of the Japanese company and Startale’s blockchain infrastructure. It is expected to offer 24/7 trading, accelerated cross-border settlements, and fractional ownership. Integration of tokenized stocks with DeFi protocols is anticipated.
Other planned features include enhanced account abstraction, institutional-grade custodial services, and real-time compliance monitoring. The partners aim to establish two joint ventures: one focused on developing key technologies, and the other on brand and business development.
“We believe the tokenized stock revolution is the greatest opportunity, and on-chain trading is its next phase. While traditional markets remain closed 70% of the time, our platform will provide continuous, programmable trading of tokenized securities, including stocks of American and Japanese companies,” stated Startale Group founder Sota Watanabe.
Betting on Competing Stablecoins
SBI Holdings and its subsidiary SBI VC Trade signed a memorandum of understanding with Ripple Labs and its affiliate Standard Custody & Trust Company.
The partners aim to promote the “stablecoin” Ripple USD (RLUSD) in Japan.
“The stablecoin market, valued at nearly $300 billion today, is expected to grow to trillions in the coming years. As these assets become a key part of the global financial infrastructure, the next wave of adoption will be driven by commercial use and institutional demand,” the statement reads.
RLUSD’s advantages include regulatory compliance and 100% backing by highly liquid assets. The coin is expected to be available in Japan by the end of March 2026.
According to Ripple’s Senior Vice President for Stablecoins, Jack McDonald, the long-standing collaboration with SBI is not just about technology.
“It’s about building a reliable and compliant financial future. The culmination of this work is the distribution of RLUSD in Japan in collaboration with SBI VC Trade,” emphasized the executive.
Meanwhile, SBI Holdings and Circle announced the launch of a joint venture to promote the use of USDC in the country and to “create new use cases in the areas of Web3 and digital finance.”
In March, SBI VC Trade became the first registered provider of electronic payment instrument services and subsequently offered clients access to Circle’s stablecoin.
Additionally, SBI Holdings acquired $50 million worth of shares in the USDC issuer as a strategic investor during the IPO.
According to CoinGecko, the stablecoin’s market capitalization is approximately $66.9 billion. The asset ranks second only to the dominant USDT from Tether, with $167 billion. Ripple’s “stablecoin” supply reaches approximately $667 million.
Earlier, the Japanese Financial Services Agency announced plans to approve the issuance of the first yen-pegged stablecoin this autumn.