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Search results for Sumitomo Mitsui Financial Group

Crypto

XRP community on edge after SBI-Solana alliance; crypto lawyer says no bad news for anyone

Japan\'s financial group SBI Holdings has partnered with the Solana Foundation to build an onchain financial market centered in Japan, sparking debate within the XRP community about a possible shift in its relationship with Ripple. The statement did not mention XRP or the XRP Ledger. SBI has been seen as a key Ripple partner. Crypto lawyer Bill Morgan said the news did not need to be overinterpreted and was not negative for anyone.

Crypto

Japan\'s SBI backs Solana to target yen stablecoin and RWA markets

Japan\'s SBI Holdings is partnering with the Solana Foundation to build onchain financial infrastructure targeting Japan\'s real-world asset (RWA) and stablecoin markets. SBI will overhaul subsidiary SBI R3 Japan, renaming it SBI Solana Global, and work with Sumitomo Mitsui Financial Group to pursue a yen-linked stablecoin and tokenisation of assets such as corporate bonds, commercial paper and real estate. SBI says it will keep a multi-chain strategy, with Ripple handling existing payment infrastructure.

Crypto

Japan\'s three megabanks to create joint stablecoin, seek issuance within 2026

Japan\'s three megabanks plan to issue a jointly created stablecoin during fiscal 2026. CoinPost reported that Mitsubishi UFJ Bank, Sumitomo Mitsui Banking Corp and Mizuho Bank will soon reach a basic agreement and set up a council to flesh out operations. The plan assumes the banks obtain licences for electronic payment instrument transactions, with a trust bank acting as issuer trustee. The initiative is also tied to securities settlement tests using blockchain data.