SBI Holdings has created a dedicated on-chain finance subsidiary built around the Canton Network, signalling an expansion of its institutional blockchain strategy beyond its long-standing work with Ripple and the XRP Ledger.
The Japanese financial group confirmed that wholly owned unit SBI Security Solutions was renamed SBI Digital Practice Co. Ltd. on 22 June, with the change disclosed in a 28 July announcement. The revamped company will act as SBI’s primary vehicle for developing financial infrastructure and applications on Canton.
Based in Roppongi, Tokyo, and led by representative director Ryo Shimotsu, SBI Digital Practice will remain 100%-owned by SBI. The parent group has also overhauled the subsidiary’s management structure to reflect its new mandate.
Canton to anchor SBI’s on-chain finance services
SBI said the unit will plan, build and operate institutional financial systems on Canton, covering areas such as implementation support, regulatory compliance and transaction platforms that span multiple jurisdictions and currencies.
The group expects a growing range of financial products and transactions to migrate onto blockchain networks. It wants SBI Digital Practice to help banks and other financial institutions adopt Canton-based solutions while complying with rules in their respective markets.
SBI has already been participating in Canton as a Super Validator – a role that involves approving and managing transactions on the network – according to its 28 July statement.
The restructuring significantly broadens SBI’s blockchain activity but does not mark a departure from Ripple or the XRP Ledger. Instead, Canton is being added as another core component of a wider, multi-network strategy.
Ripple partnership remains central
SBI and Ripple formed joint venture SBI Ripple Asia in 2016 to promote Ripple-powered payment infrastructure across the Asia-Pacific region. That partnership has remained one of Ripple’s key institutional relationships in Asia.
SBI Ripple Asia continues to work with XRP Ledger technology, including developing a token issuance platform designed to help businesses create digital assets in line with Japanese regulatory requirements.
Canton, however, is intended to cover a different segment of SBI’s plans. While Ripple’s systems at SBI have largely been used for payments, stablecoins and token issuance, SBI Digital Practice will concentrate on institutional financial infrastructure, cross-border securities and use cases where transaction privacy is required.
SBI’s latest move therefore points to a multichain approach, in which the group selects different blockchain networks for specific financial products rather than relying on a single ecosystem.
Tokenisation drive extends to Solana and Ondo
The decision to centre a subsidiary on Canton comes amid a broader series of tokenisation initiatives at SBI.
Earlier in July, SBI Global Asset Management partnered with regulated real-world asset exchange DigiFT to launch the SBI Japan High Dividend Equity Strategy Token, or JX token, on Solana. The product offers eligible institutional and accredited investors on-chain access to a Japanese equity strategy run by SBI Asset Management.
DigiFT described JX as the first listed-equity strategy from a Japanese asset manager to be brought on-chain using its regulated infrastructure. The token does not pay out dividends directly; instead, any returns are reflected through the performance of the underlying growth strategy.
Separately, SBI agreed a deal with Ondo Finance to tokenise Japanese equities and use Ondo’s yen-backed stablecoin JPYSC for settlement and collateral. Ondo Global Markets (BVI) Limited will issue the tokenised products, while SBI intends to distribute them through its own financial platforms.
According to the partnership announcement, the related tokens have not been registered under the U.S. Securities Act and cannot be offered to U.S. persons unless they are registered or fall under an applicable exemption.
Regional expansion via Coinhako
SBI has also been strengthening its digital asset distribution channels in Asia. On 16 July, it acquired a majority stake in Singapore-based exchange Coinhako after receiving approval from the Monetary Authority of Singapore.
The acquisition gives SBI another regulated venue through which to offer digital assets to clients in the region, complementing its work on tokenisation and blockchain infrastructure.
Canton’s global footprint
In outlining its reasons for backing Canton, SBI highlighted the network’s existing institutional participation. It said more than 600 organisations are involved, including Goldman Sachs, BNP Paribas, Franklin Templeton, Broadridge and Euroclear, with assets represented on Canton exceeding $6 trillion in value.
The United States link comes via the Depository Trust & Clearing Corporation (DTCC). DTCC and Digital Asset announced in December 2025 that they planned to tokenise a subset of U.S. Treasury securities held at the Depository Trust Company on Canton.
The partners set a target for a controlled production launch in the first half of 2026, with a wider rollout to follow depending on market demand. A subsequent transaction in July, conducted through Tradeweb, paired an on-chain U.S. Treasury with USDCx and settled the assets over Canton.
SBI has not yet named specific clients for SBI Digital Practice, nor has it provided launch timelines or revenue projections. However, the creation of a Canton-focused subsidiary places the network alongside Ripple, Solana, Ondo, JPYSC and Coinhako at the centre of SBI’s institutional digital asset strategy.
