SBI Teams Up With Solana on Stablecoins, Tokenized Assets, and Digital Payments

SBI Holdings has partnered with the Solana Foundation to expand regulated blockchain services in Japan and across Asia, targeting stablecoins, tokenized assets, cross-border payments, and infrastructure for financial institutions. Solana will serve as the primary network. As part of the deal, the Solana Foundation will join SBI R3 Japan alongside SBI Holdings and Sumitomo Mitsui Financial Group. SBI R3 Japan plans to rename itself SBI Solana Global once required corporate approvals are completed. The partners announced the agreement on July 13, but did not disclose the size of the Solana Foundation's investment. SBI Solana Global is positioned to link Japan's regulated financial system with blockchain markets overseas, combining financial assets, legal structures, and institutional services on a single network. SBI said Solana will support issuance, distribution, and settlement. Revenue targets, launch volumes, and confirmed client commitments were not provided. The partnership's initial focus includes yen-denominated stablecoins for payments and on-chain settlement, including JPYSC. It also plans to support tokenized corporate bonds, commercial paper, investment funds, and real estate, with issuers able to manage assets from creation through final settlement. No product launch dates were announced. Additional planned areas include cross-border payment services, offerings tailored to financial institutions, and payment systems designed for AI agents. All services are expected to comply with Japanese rules covering stablecoins, securities, custody, and market operations, and certain products may require separate approvals before public release. The Solana initiative adds to SBI's broader digital-asset push in Japan. The firm has worked with Startale on a regulated yen stablecoin aimed at payments and tokenized markets. SBI VC Trade also launched Ripple's U.S. dollar-backed RLUSD stablecoin in Japan after receiving regulatory approval. SBI is also pursuing a ¥46.7 billion acquisition of Bitbank, which would expand its footprint into crypto trading, custody, and lending. SBI has not said whether Bitbank or SBI VC Trade will distribute products tied to SBI Solana Global. Solana, for its part, continues to see rising activity in tokenized assets and stablecoin settlement. The network posted $5.77 billion in tokenized-asset spot volume in a record quarter and processed more than one billion weekly non-vote transactions. The partners intend to leverage that throughput for regulated institutional services. On the market side, SOL traded near $74 on July 13, down almost 4% over 24 hours. Technical indicators on the four-hour chart showed a falling wedge pattern, with support near $75.40 and resistance around $78.50. A break higher could open a move toward $78.60 and $79.60, with $80 seen as the key hurdle. Short-liquidation clusters were cited near $79.50, $80, and above $81, with potential upside targets at $81.80 and $83.70 if those levels are cleared. A close below $75 would weaken the falling-wedge setup and could expose support near $68.75; a deeper slide may bring $62.50 back into focus. Traders were cited as needing SOL to hold $75 and regain $80 to support a stronger recovery.