SBI partners with Cross River in Japan to establish a joint venture, clearly focusing on RWA tokenization products
SBI Holdings signed a memorandum of understanding with CRB Group, the parent company of Cross River Bank, to plan the establishment of a joint venture in Japan, with core business clearly including the development, construction, and distribution of RWA tokenization products based on real-world assets such as loan receivables, and access to Japan's first trust-type JPY stablecoin JPYSC for settlement.
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October 28, SBI Holdings announced that it has signed a memorandum of understanding with CRB Group, the parent company of US financial technology infrastructure company Cross River Bank, and plans to establish a joint venture in Japan after obtaining regulatory approvals from Japan and the US. The planned joint venture will focus on three types of business: the development, construction, and distribution of RWA tokenization products based on real-world assets such as loan receivables; cross-border payment services utilizing the cross-border payment infrastructure of both parties' banks; and an agency-based commercial payment infrastructure supporting transactions initiated by AI agents.
SBI also made a strategic investment in CRB Group (the amount was not disclosed). The collaboration also plans to integrate JPYSC, Japan's first trust-type Japanese yen stablecoin jointly developed by SBI and Startale, into the Cross River platform, for settlement of institutional, cross-border, and tokenized asset transactions. In addition, SBI is exploring the possibility of serving as a strategic cornerstone limited partner for a newly established private credit and structured product asset management tool under CRB Group.