Japan’s SBI Partners with Circle, Ripple, and Startale to Advance Stablecoins and Tokenized Assets

SBI Expands Blockchain Strategy with Global Partners

Japanese financial conglomerate SBI Group has announced three new blockchain-focused partnerships with Circle, Ripple, and Startale, aimed at accelerating stablecoin adoption and building a next-generation platform for tokenized assets.

The move highlights Japan’s growing role in the digital asset economy as regulators push for innovation in stablecoins, tokenization, and 24/7 financial markets.

Circle Partnership: Joint Venture for USDC Adoption

SBI and Circle, the issuer of USD Coin (USDC), will establish a joint venture in Japan. The goal is to promote USDC adoption across Web3, fintech, and digital finance sectors.

According to SBI, the venture will “create new use cases for USDC in Japan and expand opportunities in the Web3 economy.”

This comes after SBI VC Trade completed registration to support USDC operations earlier in March 2025.

Ripple Partnership: RLUSD Distribution in Japan

Separately, SBI signed a memorandum of understanding with Ripple Labs to bring Ripple USD (RLUSD) to the Japanese market.

SBI VC Trade, the group’s crypto subsidiary, will handle distribution, with a launch targeted by the fiscal year ending March 2026.

SBI VC Trade CEO Tomohiko Kondo said:

“The introduction of RLUSD will not just expand stablecoin options in Japan, but also enhance reliability and convenience in the market.”

SBI and Ripple already share a long-standing relationship, with SBI providing various XRP-based services across its platforms over the years.

Source: Ripple

Related: SBI's Crypto Arm to Support USDC as Japan Eases Stablecoin Regulations

Startale Collaboration: Tokenized Asset Trading Platform

In partnership with Singapore-based Startale, SBI plans to build an onchain platform for tokenized stocks and real-world assets (RWAs), enabling 24/7 trading and settlement.

The venture has secured milestone-based committed funding, though neither a launch timeline nor the technical architecture has been disclosed. Startale is known for co-developing Sony’s Soneium layer-2 blockchain and Astar Network.

SBI CEO Yoshitaka Kitao emphasized the significance of tokenization:

“Tokenized RWAs enable real-time settlement and unprecedented liquidity. We expect this trend to accelerate the convergence of traditional finance and DeFi, ultimately transforming capital markets themselves.”

Startale CEO Sota Watanabe added that the joint venture’s mission is to deliver an “always-on, compliant trading platform for tokenized assets.”

Total RWA market chart and main components as of Thursday. Source: RWA.xyz

Related: Security Tokens: The Ultimate Guide to Their Role in the Future of Finance

Tokenization Trend Gains Momentum

SBI’s announcement comes as global financial institutions ramp up their exploration of tokenized markets:

• Gemini, Kraken, and Robinhood have introduced tokenized stock trading this year.

• Bloomberg recently reported that Eric Trump will visit Tokyo in September to advance his family’s crypto initiatives.

The rise of tokenized RWAs reflects a broader push to digitalize capital markets, combining traditional finance infrastructure with blockchain’s speed and efficiency.

Conclusion: SBI Strengthens Role in Japan’s Digital Asset Push

By aligning with Circle, Ripple, and Startale, SBI is positioning itself at the forefront of Japan’s blockchain adoption wave. Stablecoins like USDC and RLUSD are set to gain greater traction, while the tokenization of real-world assets could reshape how Japanese markets operate.

With regulatory clarity improving and institutional demand rising, SBI’s initiatives could play a pivotal role in shaping Japan’s digital financial ecosystem over the coming years.