SBI expands beyond Ripple with Canton Network unit

SBI Holdings has restructured a wholly owned subsidiary around the Canton Network, extending its institutional blockchain strategy beyond Ripple and the XRP Ledger.

SBI creates dedicated Canton Network business

SBI Holdings announced on July 28 that SBI Security Solutions had changed its name to SBI Digital Practice Co. Ltd., effective June 22.

The wholly owned subsidiary will now operate as SBI’s dedicated on-chain finance business specializing in the Canton Network. SBI has also renewed the company’s management structure to support the change.

SBI Digital Practice will plan, develop, and operate financial infrastructure and applications for institutions using Canton. Its services will cover implementation support, regulatory compliance, and transaction systems spanning different countries and currencies.

The subsidiary is based in Roppongi, Tokyo, and is led by representative director Ryo Shimotsu. SBI retains full ownership of the business.

SBI said it expects more financial products and transactions to move onto blockchain networks. The company wants the new unit to help banks and other financial institutions adopt the technology while meeting rules in their respective markets.

SBI has participated in Canton as a Super Validator, a network role involved in transaction approval and management, according to the company’s July 28 announcement.

SBI’s expansion does not signal a Ripple exit

The restructuring broadens SBI’s blockchain operations but does not indicate that the group is abandoning Ripple or the XRP Ledger.

SBI and Ripple established SBI Ripple Asia in 2016 to promote Ripple-based payment infrastructure across the Asia-Pacific region. Their joint venture has remained one of Ripple’s main institutional relationships in the region.

SBI Ripple Asia has continued developing XRP Ledger services, including a token issuance platform designed to help businesses create digital assets under Japanese regulatory requirements.

Canton serves a different part of SBI’s strategy. While Ripple’s infrastructure has mainly supported payments, stablecoins, and token issuance, the new subsidiary will focus on institutional financial infrastructure, cross-border securities, and systems that require transaction privacy.

The move therefore points to a multichain model in which SBI selects different networks for different financial products rather than depending on a single blockchain ecosystem.

Solana and Ondo deals widen SBI’s multichain strategy

Canton is the latest addition to a broader series of tokenization projects announced by 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 gives eligible institutional and accredited investors on-chain access to a Japanese equity strategy managed by SBI Asset Management.

DigiFT described JX as the first listed-equity strategy from a Japanese asset manager to be brought on-chain through its regulated infrastructure. The token does not distribute dividends directly, with returns instead reflected through the underlying growth strategy.

SBI also reached an agreement with Ondo Finance to tokenize Japanese equities and use its yen-backed JPYSC stablecoin for settlement and collateral. Ondo Global Markets (BVI) Limited will issue the products, while SBI plans to distribute them through its financial platforms.

The related tokens have not been registered under the U.S. Securities Act and cannot be offered to U.S. persons unless registered or covered by an exemption, according to the partnership announcement.

SBI separately acquired a majority stake in Singapore exchange Coinhako on July 16 after receiving approval from the Monetary Authority of Singapore. The deal gives SBI another regulated distribution channel for digital assets in Asia.

Canton connects SBI to U.S. Treasury tokenization

SBI said Canton has more than 600 participating institutions, including Goldman Sachs, BNP Paribas, Franklin Templeton, Broadridge, and Euroclear. It placed the value of assets represented on the network above $6 trillion.

The U.S. connection comes through the Depository Trust & Clearing Corporation. DTCC and Digital Asset announced plans in December 2025 to tokenize a subset of U.S. Treasury securities held at the Depository Trust Company on Canton.

The partners targeted a controlled production launch during the first half of 2026, followed by a broader rollout based on market demand. A July transaction conducted through Tradeweb later paired an on-chain U.S. Treasury with USDCx and settled the assets through Canton.

SBI has not disclosed specific customers, launch dates, or revenue targets for its new subsidiary. Its latest restructuring nevertheless places Canton alongside Ripple, Solana, Ondo, JPYSC, and Coinhako within a wider institutional digital asset strategy.