SBI Holdings, Mesh and Money Forward plan joint venture for crypto transfers and payments

SBI Holdings, one of Japan’s largest fintech groups, has joined forces with Mesh Connect and Money Forward to develop digital asset connectivity and payment infrastructure through a planned Japanese joint venture, according to an Oct. 7 statement.

The companies have reached a basic agreement and plan to establish the venture in 2026, subject to definitive agreements, internal approvals and regulatory engagement. Mesh Connect will hold a 60% stake, followed by SBI Group at 26% and Money Forward at 14%, as noted in the release.

The joint venture will leverage Mesh’s API-based connectivity infrastructure, which links crypto exchanges, wallets and other digital asset services, alongside SBI Group’s financial services network and regulatory expertise. Money Forward, an existing Mesh shareholder, will provide management support and help expand the business in Japan.

The companies will initially explore account connectivity, digital asset transfers, streamlined purchasing and payment infrastructure involving crypto assets and stablecoins.

They will also examine services for tokenized assets and digital payments used by financial institutions and enterprises, with potential expansion into stablecoin and tokenized-asset connectivity over the longer term.