Key Takeaways
- • SBI Group completed acquisition of Singapore-based Coinhako, a regulated cryptocurrency exchange, establishing its first Southeast Asia exchange foothold as part of a deliberate Asia digital asset corridor strategy.
- • In June 2026, SBI agreed to acquire Japanese crypto exchange Bitbank for approximately $289 million, with combined custody reaching roughly $7 billion (1.1 trillion yen) post-deal and expected close in October 2026.
- • SBI launched JPYSC on June 24, 2026—Japan's first trust bank-backed stablecoin pegged 1:1 to the yen with embedded 3% yield lending, positioning yen-denominated settlement infrastructure for cross-border transactions.
- • SBI invested as sole backer in Gauntlet's $125 million Series C (DeFi risk modeling) and anchored EDX Markets' $76 million Series C (institutional crypto exchange), building out the infrastructure and institutional settlement layers across its ecosystem.
- • July 16 partnership with Ondo Finance enables tokenization of Japanese equities using JPYSC as settlement layer, integrating with SBI Ripple Asia's existing cross-border payment infrastructure dating to 2016.
Summary
Japan's SBI Group has executed a coordinated series of investments and acquisitions spanning late June through mid-July 2026 that constitute a deliberate blueprint for building what the company describes as an "onchain transformation" strategy and Asia's first cross-border digital asset empire. The initiative leverages SBI's traditional finance footprint, which already exceeds $250 billion in assets, as the launchpad for regional digital asset expansion.
The cornerstone transactions occurred in rapid succession. On June 25, SBI agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, for approximately $289 million. The combined custody figure post-acquisition reaches roughly $7 billion (1.1 trillion yen), with the deal expected to close in October 2026. One day prior, on June 24, SBI launched JPYSC, described as Japan's first trust bank-backed stablecoin. JPYSC is pegged 1:1 to the yen and includes a 3% yield lending option, creating a yen-denominated settlement asset that can serve cross-border transactions. Earlier in 2026, SBI had already secured a controlling stake in Singapore-based Coinhako, providing regulated exchange access in one of Southeast Asia's most crypto-forward jurisdictions.
Beyond exchange acquisition, SBI has systematically funded infrastructure and institutional market layers. In early July, SBI became the sole investor in Gauntlet's $125 million Series C funding round. Gauntlet is a risk modeling firm specializing in DeFi protocol parameter optimization. SBI subsequently anchored EDX Markets' $76 million Series C, where EDX Markets operates as a crypto exchange purpose-built for institutional clients. This sequencing—exchanges, stablecoin infrastructure, risk management tools, and institutional settlement layers—reflects a coordinated ecosystem build rather than opportunistic deal-making.
On July 16, SBI announced a partnership with Ondo Finance to tokenize Japanese equities with JPYSC as the settlement layer. This transaction integrates with SBI Ripple Asia's pre-existing cross-border payment infrastructure built around RippleNet and the XRP Ledger since 2016, creating an extended ecosystem where tokenized assets settle via SBI's proprietary stablecoin. The cumulative effect positions SBI to operate an integrated digital asset corridor spanning Japan, Singapore, and broader Asia, with custody, stablecoin settlement, risk infrastructure, institutional venues, and tokenization capabilities consolidated under a single corporate structure.
The cornerstone transactions occurred in rapid succession. On June 25, SBI agreed to acquire Bitbank, a Tokyo-based cryptocurrency exchange, for approximately $289 million. The combined custody figure post-acquisition reaches roughly $7 billion (1.1 trillion yen), with the deal expected to close in October 2026. One day prior, on June 24, SBI launched JPYSC, described as Japan's first trust bank-backed stablecoin. JPYSC is pegged 1:1 to the yen and includes a 3% yield lending option, creating a yen-denominated settlement asset that can serve cross-border transactions. Earlier in 2026, SBI had already secured a controlling stake in Singapore-based Coinhako, providing regulated exchange access in one of Southeast Asia's most crypto-forward jurisdictions.
Beyond exchange acquisition, SBI has systematically funded infrastructure and institutional market layers. In early July, SBI became the sole investor in Gauntlet's $125 million Series C funding round. Gauntlet is a risk modeling firm specializing in DeFi protocol parameter optimization. SBI subsequently anchored EDX Markets' $76 million Series C, where EDX Markets operates as a crypto exchange purpose-built for institutional clients. This sequencing—exchanges, stablecoin infrastructure, risk management tools, and institutional settlement layers—reflects a coordinated ecosystem build rather than opportunistic deal-making.
On July 16, SBI announced a partnership with Ondo Finance to tokenize Japanese equities with JPYSC as the settlement layer. This transaction integrates with SBI Ripple Asia's pre-existing cross-border payment infrastructure built around RippleNet and the XRP Ledger since 2016, creating an extended ecosystem where tokenized assets settle via SBI's proprietary stablecoin. The cumulative effect positions SBI to operate an integrated digital asset corridor spanning Japan, Singapore, and broader Asia, with custody, stablecoin settlement, risk infrastructure, institutional venues, and tokenization capabilities consolidated under a single corporate structure.
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