SBI Holdings Goes Full Globe-Trotter: $1B UAE Stablecoin Bet & JPYSC Bonds 😏

SBI Holdings, the Japanese financial group long associated with Ripple, has made an additional investment in UAE-based stablecoin payments firm Fasset at a $1 billion valuation, the company announced. The deal follows SBI's previous strategic investment in Fasset in May 2026 and is intended to make Fasset an equity-method affiliate once its Series C funding round closes. Fasset provides remittance, payment and investment services using stablecoins across Asia, the Middle East and Africa, linking multiple blockchain networks to banking corridors in international markets and offering thousands of wallets in more than 100 countries and regions.

The move also deepens operational ties between the two firms. SBI and Fasset have agreed to jointly operate a digital bank in Malaysia and to co-develop financial services built on stablecoins. SBI Holdings is a key partner of Ripple and has an extensive track record of working with the blockchain firm, and the latest Fasset investment reflects the SBI Group's emphasis on digital-asset financial services and cross-border payments.

Separately, SBI Holdings is reshaping how it backs its yen-pegged stablecoin JPYSC, placing ¥1 billion of JPYSC reserves into short-term Japanese government bonds. The investment is being executed through SBI Shinsei Trust Bank and SBI VC Trade. JPYSC is now the first trust-based yen stablecoin in Japan to adopt the country's updated reserve regulations, which took effect on June 1, 2026 under revisions to the Payment Services Act. The revised framework permits eligible trust-backed stablecoins to hold up to 50 percent of their tokens in short-term government bonds or short-term time deposits, provided they meet the regulatory requirements.

The bond allocation comes as Japanese government bonds have faced declining demand amid investor focus on Bank of Japan policy. As of Sept. 7, JPYSC's outstanding supply stood at approximately ¥20.1 billion, while total ecosystem demand for the stablecoin was approaching ¥27 billion. Applications for SBI VC Trade's yen lending service have reached about ¥6.9 billion.