SBI to form JV in Japan to streamline digital asset purchases and payments

Japan’s SBI Holdings said it is pursuing a joint venture with crypto infrastructure firm Mesh Connect and financial platform company Money Forward to simplify digital asset purchases, remittances and payment procedures in Japan. The three companies plan to establish the joint venture within this year after signing a final agreement, completing internal procedures and responding to regulators. They are also reviewing whether to develop payment functions using cryptocurrencies and stablecoins, build related connectivity infrastructure, and pursue tokenized asset and digital payment infrastructure services for financial institutions and corporations.