SBI, Mesh, Money Forward Plan Japan JV for Crypto Connectivity, Stablecoin Payments

SBI Holdings, crypto payments network Mesh and Tokyo-listed fintech Money Forward have signed a strategic agreement to form a joint venture that will build digital asset connectivity and payments infrastructure in Japan, the three companies announced on Wednesday. The venture is targeted to launch in Japan in the fourth quarter of 2026, subject to definitive agreements and regulatory approvals, with expansion across Asia-Pacific to be evaluated later.

The companies describe the venture as a connectivity layer across Japan's digital asset market, combining SBI's regulated financial infrastructure, Mesh's API network for linking exchanges and wallets, and Money Forward's fintech platform. Its stated remit covers five areas: account linking and asset transfers between exchanges and wallets, onboarding and purchase flows, infrastructure for regulated stablecoins, tokenized asset management for financial institutions and enterprises, and cross-border rails connecting digital assets, stablecoins and fiat payment networks.

"Our goal is to ensure that the next generation of digital money does not become another collection of closed ecosystems," said Jason Ne Win, APAC CEO of Mesh. Takuya Sugiyama, general manager at SBI Holdings, said interoperability would be "critical to unlocking" the potential of digital assets and regulated stablecoins as they integrate into the financial system.