← Embedded Finance Index 2026

SBI Holdings

“Can a Japanese internet-financial conglomerate become the institutional backbone for crypto-rail-based cross-border finance across Asia and emerging markets?”

Founded1999
HQTokyo, Japan
IndustryFintech / Conglomerate
The story

Founded 1999 as SoftBank Investment, SBI became Japan's leading internet-based financial conglomerate, spinning fully out of SoftBank and building businesses across securities (SBI SECURITIES), banking (SBI Shinsei Bank), insurance, asset management, and crypto. The group has aggressively pushed into crypto/Web3 infrastructure — partnering with Ripple since 2017 for XRP cross-border remittances and forming SBI Ripple Asia — while also taking minority stakes in global fintech infrastructure (Onfido, R3). The 2022 SMBC-SBI Alliance and 2023 SC Ventures JV signal a strategy of pairing balance sheet with global digital-asset infrastructure rather than building a single embedded-finance API.

Last 12 months
2023-09
2023-11
2023-11
Product timeline
1999
Founded as SoftBank Investment Co., Ltd.; pioneer of internet-based financial services in Japan· founding
2000
SBI Shinsei Bank established (rebranded from Long-Term Credit Bank of Japan)· banking
2017
SBI Remit begins using Ripple Payments for cross-border remittances· pivot
2021
Launched Japan's first international money transfer service using crypto-assets (XRP) via SBI Remit / SBI VC Trade· banking
2022
Comprehensive capital and business alliance with Sumitomo Mitsui Financial Group (SMBC-SBI Alliance)· acquisition
2023
Announced expansion of XRP-based remittance to Philippines, Vietnam, Indonesia; joint digital asset venture with SC Ventures in UAE· banking
Regulated entities
4
regulatory licences held by SBI Holdings
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
4 layers disclosed in SBI Holdings’s embedded-finance stack
Banking / BaaS
SBI Shinsei Bank (in-house)
Lending
in the full report
FX & payouts
in the full report
Crypto
in the full report
Accounting gap: none
7 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.