SBI Holdings, Mesh and Money Forward plan Japanese crypto payments joint venture
In brief
- SBI Holdings, Mesh Connect and Money Forward reached a basic agreement on a Japanese joint venture.
- Mesh Connect would hold 60%, SBI Group 26% and Money Forward 14%.
- Venture establishment planned for 2026, subject to definitive agreements, approvals and regulatory engagement.
- Initial focus: account connectivity, digital asset transfers, purchasing and crypto and stablecoin payments.
Who owns what
Mesh Connect would be the majority owner. Under the companies' statement, as reported by Crypto Briefing, Mesh would hold a 60% stake, with SBI Group at 26% and Money Forward at 14%.
That puts SBI Holdings (which the outlet described as one of Japan's largest fintech groups) in a minority position.
Money Forward isn't new to Mesh. It's already a Mesh shareholder, and the companies said it'll provide management support and help expand the business in Japan.
What the venture would build
So what's each side bringing? The plan pairs Mesh's API-based connectivity infrastructure, which links crypto exchanges, wallets and other digital asset services, with SBI Group's financial services network and regulatory expertise, per the Oct. 7 announcement.
The companies said they'd start by exploring account connectivity, digital asset transfers, streamlined purchasing and payment infrastructure involving crypto assets and stablecoins. They also plan to look at tokenized-asset and digital payment services aimed at financial institutions and enterprises, not just retail users.
What isn't settled yet
None of this is final.
The companies have a basic agreement, not a signed deal. Getting the venture established in 2026 still depends on definitive agreements, internal approvals and regulatory engagement, according to the companies' statement, and the release didn't spell out a firmer timeline than that.
Further out, the three firms flagged possible expansion into stablecoin and tokenized-asset connectivity. Those are areas they say they'll explore. They haven't described them as committed products, and the statement didn't attach launch dates or specific offerings to that longer-term work.
For now, the concrete pieces are the 60/26/14 ownership split, Mesh's connectivity infrastructure, SBI Group's network and regulatory expertise, and Money Forward's role helping grow the business in Japan.
Frequently asked questions
Who owns the SBI, Mesh and Money Forward joint venture?
Under the planned ownership split, Mesh Connect would hold 60%, SBI Group 26% and Money Forward 14%. Money Forward is already a Mesh shareholder and would provide management support and help expand the business in Japan.
When will the joint venture be established?
The companies have reached a basic agreement and plan to establish the venture in 2026. That's still subject to definitive agreements, internal approvals and regulatory engagement, so the venture hasn't been formed yet.
What services will the joint venture focus on?
The companies said they'd first explore account connectivity, digital asset transfers, streamlined purchasing and payment infrastructure involving crypto assets and stablecoins. They also plan to examine tokenized-asset and digital payment services for financial institutions and enterprises.
