Japan’s largest financial conglomerate, SBI Group, has officially announced a strategic move by forging three major partnerships in the blockchain industry. Last Friday, SBI signed collaborations with Circle (issuer of the USDC stablecoin), Ripple (developer of the RLUSD stablecoin and XRP network), and Startale, a Singapore-based Web3 company.

This move underscores SBI’s ambition to expand stablecoin adoption and pave the way for real-world asset (RWA) tokenization in Japan.

SBI & Circle: Driving USDC Adoption in Japan

SBI and Circle announced the formation of a joint venture to expand the use of USDC in Japan.
Circle, known as the world’s second-largest stablecoin issuer, hopes this collaboration will bring more use cases for USDC in Japan’s Web3 and digital finance sectors.
USDC is widely regarded as stable since it is fully backed 1:1 by U.S. dollar assets, making it a popular choice in global crypto trading.

SBI & Ripple: Distributing the RLUSD Stablecoin

In addition to Circle, SBI also signed a memorandum of understanding (MoU) with Ripple to distribute their new stablecoin, Ripple USD (RLUSD), in Japan.
The distribution will be handled by SBI VC Trade, SBI’s crypto subsidiary. The stablecoin is expected to launch before the end of the fiscal year in March 2026.
According to SBI VC Trade CEO Tomohiko Kondo, the introduction of RLUSD not only diversifies stablecoin options in Japan but also enhances reliability and convenience for domestic users.

SBI & Startale: Building an Asset Tokenization Platform

Beyond stablecoins, SBI is also partnering with Startale Labs to develop an on-chain trading platform. This platform will enable tokenization of stocks and real-world assets (RWA) with 24/7 trading.
RWA tokenization is gaining popularity in modern finance as it transforms traditional assets such as real estate, stocks, and bonds into liquid digital assets, tradable anytime without stock market restrictions.

SBI’s Long Track Record in Blockchain

This is not SBI’s first collaboration with Circle or Ripple. Previously, SBI VC Trade completed registration to support USDC operations in March.
Moreover, SBI has maintained a long-term relationship with Ripple, including support for XRP-based services across its financial platforms.

Japan Taking Stablecoins & Web3 More Seriously

The three-way partnership between SBI, Circle, Ripple, and Startale highlights Japan’s increasing commitment to fostering stablecoin adoption and asset tokenization.
With clearer regulations and backing from major conglomerates like SBI, Japan is well-positioned to become one of Asia’s leading hubs for stablecoin and Web3 adoption.