SBI Remit, the overseas money transfer subsidiary of Japan’s SBI Group, has announced a strategic partnership with digital asset platform Fasset to develop infrastructure powered by stablecoins. The collaboration aims to modernize cross-border payments, targeting remittances, SME payments, treasury management, and settlement services across multiple international markets.
The alliance will integrate SBI Remit’s extensive remittance network—which has processed more than JP¥2.5 trillion in cumulative transactions and reaches over 200 countries and territories through partners like MoneyGram, Tranglo, and regional banks—with Fasset’s blockchain-based Own Network. Fasset handles approximately $32 billion in annualized transaction volume, supports over two million wallets, and connects more than 50 banking and payment corridors across 16 blockchain networks spanning Asia, the Middle East, Africa, and beyond.
The initial focus is on building stablecoin rails that promise faster settlement times, lower transaction costs, and enhanced visibility into payment flows. Beyond remittances, the partnership will explore future products including debit card programs, digital wallet services, cash-to-agent payment corridors, and AI-driven financial tools. Both companies highlighted the potential for automated money movement, where AI assistants could manage tasks like salary transfers, currency allocation, and household financial operations across borders.
This move deepens SBI Group’s growing digital asset footprint. Earlier in June, SBI Shinsei Bank launched a promotional campaign offering deposit customers crypto exchange vouchers redeemable for Bitcoin, Ether, and XRP through SBI VC Trade. In March, SBI VC Trade introduced a USDC lending service that allows users to earn yield on stablecoin deposits. The group is also preparing crypto investment trust products and has explored increasing its stake in crypto exchange Bitbank after integrating Bitpoint Japan into SBI VC Trade. The partnership arrives as Japanese institutions accelerate activity in tokenized payments and stablecoin development, even as traditional banking rails still handle most cross-border transfers at higher cost and longer settlement times.
