SBI Holdings, a long-standing Ripple partner, is expanding its cross-border payment strategy beyond RippleNet and the XRP Ledger.
The Japanese financial group has entered a new partnership with UAE-based fintech company Fasset. The collaboration will focus on stablecoin-powered remittance services and next-generation international payment infrastructure.
The move suggests that SBI wants to use several blockchain networks instead of depending entirely on Ripple’s ecosystem.
SBI Holdings Partners With Fasset
SBI Holdings has made a strategic investment in Fasset, a digital asset company based in the United Arab Emirates.
On June 18, SBI announced that its remittance division, SBI Remit, had signed a memorandum of understanding with Fasset.
The agreement will allow both companies to explore new infrastructure for international payments. In particular, they will examine how stablecoins and blockchain technology could improve cross-border remittances.
The partnership also reflects SBI’s continued interest in digital assets. The company has supported cryptocurrency and blockchain services for almost a decade.
In addition, SBI recently expanded into artificial intelligence through a separate partnership with Anthropic.
SBI’s Long Relationship With Ripple
SBI Holdings and Ripple launched SBI Ripple Asia as a joint venture in 2016.
Since then, SBI Ripple Asia has helped promote RippleNet-based cross-border payments throughout the Asia-Pacific region.
The partnership has also supported institutional adoption of the XRP Ledger and Ripple’s broader payment technology.
However, SBI’s latest agreement with Fasset shows that its blockchain strategy is becoming more diverse.
Rather than relying only on RippleNet and XRPL, the company appears to be developing payment channels that can operate across several networks.
Why the Fasset Partnership Matters
The agreement will allow SBI Remit to explore remittance services powered by stablecoins.
SBI plans to use Fasset’s digital asset infrastructure, which reportedly supports more than two million wallets. The platform also processes around $32 billion in annual transactions.
Fasset is developing payment services across 16 blockchain networks. It also works with more than 50 banking partners.
This infrastructure could help SBI increase its reach and offer faster international payment services in additional markets.
Stablecoins may also provide a more efficient settlement option. They can transfer value across borders without depending entirely on traditional banking systems.
SBI Is Not Abandoning the XRP Ledger
Although SBI is expanding beyond Ripple’s technology, the company continues to develop services connected to the XRP Ledger.
SBI Ripple Asia recently registered as a third-party prepaid payment instrument issuer in Japan.
In April 2026, the company also completed a token issuance platform built on XRPL.
The platform allows businesses to issue digital tokens while meeting local regulatory requirements. Its launch strengthened the use case for Ripple’s technology within Japan.
Therefore, SBI’s partnership with Fasset does not necessarily mean that it is moving away from Ripple completely.
Instead, the company appears to be creating a multi-network blockchain strategy.
SBI Adopts a Multi-Blockchain Payment Strategy
SBI’s investment in Fasset represents an important step in its broader blockchain payment expansion.
The company could continue using RippleNet and the XRP Ledger while adding stablecoin settlement channels and support for other blockchain networks.
This approach could reduce SBI’s reliance on a single technology provider. It may also give the company more flexibility when developing international payment products.
A multi-chain strategy could help SBI serve different markets, banking partners, and regulatory environments.
SBI Expands Its Wider Crypto Services
SBI has also continued expanding into other areas of the cryptocurrency industry.
In a separate development, the Japanese financial group launched Solana trading and custody services.
The move further demonstrates SBI’s interest in supporting several digital asset ecosystems.
Overall, SBI appears to be building a broader blockchain infrastructure. Ripple and the XRP Ledger may remain important parts of its strategy, but they will no longer be the company’s only options for cross-border payments.
