SBI Holdings has signed a memorandum of understanding with the parent company of US-based CRB Group and will pursue cooperation in asset tokenisation and cross-border payments with a view to establishing a joint venture in Japan. The parties will consider blockchain-based real-world assets and the introduction of JPYSC, among other initiatives.
SBI Holdings and CRB Group, the parent company of US-based CRB Group, signed a memorandum of understanding on 28 October for a strategic business partnership. The parties stated that they aim to establish a joint venture in Japan and plan to cooperate on the tokenisation of loan receivables and other assets, as well as cross-border payments.
The joint venture will consider developing and selling products for investors through the tokenisation of rights to real-world assets, enabling them to be handled on a blockchain. It also envisions considering cross-border payment services using the two companies’ banking systems and remittance infrastructure, as well as a business capable of handling payments when AI agents conduct transactions.
In addition to the joint venture, the parties stated that they plan to introduce JPYSC, a yen-denominated trust-based stablecoin issued by SBI Shinsei Trust Bank, on Cross River Bank’s platform. They aim to use it as a means of settlement for institutional investor transactions, cross-border transactions and the purchase and sale of tokenised assets.
On the capital side, SBI plans a strategic investment in CRB Group and is considering investing in the establishment of a private credit investment vehicle related to Cross River Bank.