From 1999 Finance Roots to Crypto Giant: SBI Group’s Rise as Japan Web3 Leader
Japan has long been known for its cautious approach to new technologies. Yet one company stands out for turning that caution into bold action.
Early Days in Internet Finance
SBI Group started in 1999 as part of the SoftBank family. It focused on investments and online trading at a time when most Japanese banks still used paper forms. The company quickly bought an early online brokerage and built a model that delivered banking, insurance, and securities through simple websites. This “financial supermarket” idea helped it grow fast and stay independent by 2006.
Stepping Into Blockchain
By 2016, SBI saw the future in blockchain. It teamed up with Ripple to bring faster cross-border payments to Asia. The partnership created a joint company that tested Ripple’s network in Japan, South Korea, and Southeast Asia. Over the years, the network spread to Thailand, the Philippines, Vietnam, and Indonesia. In 2023, SBI even began giving XRP tokens directly to shareholders, a first for any listed Japanese firm.
Building a Crypto Empire Through Smart Buys
SBI did not stop at partnerships. It used its money to buy and merge several exchanges. After failed talks with Binance, it brought TaoTao into its fold. Later it added DMM Bitcoin after a big hack and merged BITPoint Japan. The latest move is the purchase of Bitbank for 46.7 billion yen. These deals pushed SBI’s total users to nearly 2.92 million and assets under custody to about 1.1 trillion yen, making it Japan’s top crypto group.
Stablecoins and New Tools
Looking ahead, SBI is preparing to launch Japan’s first trust-type yen stablecoin called JPYSC. It also plans to offer Ripple’s RLUSD dollar stablecoin to both big institutions and regular users. These tools will support payments, tokenization of real assets, and use as collateral. The company already runs a market maker, a digital asset custody service, and even a mining pool.
Why SBI Stands Out
Most Japanese crypto firms stay small and local. SBI acts more like a global player. It holds stakes in well-known names such as Kraken, Circle, and Bithumb. Its securities arm is testing crypto investment trusts and blockchain bonds. While it does not build its own tokens or apps, it touches almost every other part of the industry.
With a market value near 1.78 trillion yen, SBI proves that a company founded in the last century can still lead in Web3. Its mix of traditional finance power and steady crypto investments gives it a strong edge in Japan’s growing digital economy.
