SBI Holdings, Mesh and Money Forward partner on digital asset infra

By Divya Shah

SBI Holdings, Mesh and Money Forward have entered into a strategic agreement to establish a joint venture focused on developing digital asset connectivity and payments infrastructure in Japan and the wider Asia-Pacific region.

The planned venture will combine SBI Group’s regulated financial infrastructure, Mesh’s API-based crypto payments connectivity network, and Money Forward’s FinTech platform capabilities to create a unified connectivity layer for Japan’s digital asset ecosystem. 

The partners said the initiative is intended to support the growing adoption of digital assets and regulated stablecoins as Japan’s evolving regulatory environment creates new opportunities for commercial deployment. Subject to definitive agreements and regulatory approvals, the joint venture is expected to launch in Japan during the fourth quarter of 2026, with expansion into other Asia-Pacific markets under consideration. 

The venture will focus on five strategic areas: account connectivity between cryptocurrency exchanges and digital wallets, streamlined onboarding and transaction workflows, infrastructure for regulated stablecoins, tokenised asset management capabilities, and cross-border payment integration linking digital assets, stablecoins and fiat currencies. 

Takuya Sugiyama, General Manager at SBI Holdings, said, “As digital assets and regulated stablecoins become increasingly integrated into the global financial system, interoperability and connectivity will be critical to unlocking their full potential. Through this partnership, we seek to bridge traditional finance and digital asset ecosystems, creating secure and compliant infrastructure that enables the seamless movement of value for both consumers and enterprises.”

Jason Ne Win, APAC CEO of Mesh, said, “Our goal is to ensure that the next generation of digital money does not become another collection of closed ecosystems. By bringing together Mesh’s payments connectivity with SBI Holdings’ deep expertise in Japan’s financial infrastructure and Money Forward’s FinTech scalability, we can make digital assets work the way they were intended, allowing businesses and individuals to move value seamlessly across the platforms and assets they choose to use.”

Money Forward, which invested in Mesh in 2023, said the partnership aligns with its strategy of reducing friction in financial processes through a combination of SaaS and FinTech services. 

Sandy Kimura, Executive Officer at Money Forward, said, “Our SaaS × FintTech strategy has always focused on removing friction from complex financial processes. Since investing in Mesh in 2023, we have shared its belief that an open and secure financial ecosystem requires better connectivity. By combining that vision with SBI Holdings’ deep experience in Japan’s financial infrastructure, we can explore how our platform businesses can make digital asset connectivity simpler and more accessible for users and businesses across Japan.”

The partners believe the venture will help create more seamless connections between traditional financial systems and emerging digital asset networks, supporting payments, stablecoin adoption and tokenised asset services across the region.