SBI Remit taps Fasset for cross-border stablecoin infrastructure
SBI Remit has partnered with digital asset platform Fasset to develop stablecoin-based infrastructure for cross-border payments and other financial services.
- SBI Remit has partnered with Fasset to develop stablecoin powered infrastructure for remittances, payments, and settlements across international markets.
- The companies said the partnership combines SBI Remit’s JP¥2.5 trillion remittance network with Fasset’s blockchain network that spans more than 50 payment corridors.
- The agreement also covers future services including stablecoin payment products, digital wallets, debit cards, and AI driven financial tools.
According to a press release shared with crypto.news, the initiative will combine SBI Remit’s international remittance network with Fasset’s blockchain-powered payment infrastructure to support faster and lower-cost money transfers across multiple markets.
SBI Remit, the overseas money transfer subsidiary of SBI Group, said it has processed more than JP¥2.5 trillion in cumulative transactions since its launch. The company said its payout network reaches more than 200 countries and territories through partners that include MoneyGram, Tranglo, banks, and regional payment providers.
Fasset said its platform handles more than $32 billion in annualized transaction volume and supports over two million wallets. The company added that its Own Network connects more than 50 banking and payment corridors across 16 blockchain networks spanning Asia, the Middle East, Africa, and other regions.
Stablecoin network targets payments and settlements
The partnership will initially focus on infrastructure for remittances, SME payments, treasury management, and settlement services. The companies said stablecoin rails can reduce settlement times, lower transaction costs, and provide greater visibility into payment flows.
The agreement also covers future products tied to stablecoins, including debit card programs, digital wallet services, and other consumer and business payment tools. SBI Remit and Fasset said the collaboration will support cash-to-agent payment corridors in addition to blockchain-based transfers.
Nobuo Ando, Representative Director and Chairman of SBI Remit, said demand for faster international financial services continues to increase and stablecoin infrastructure offers an opportunity to improve cross-border payments.
“This partnership combines SBI Remit’s trusted remittance network with Fasset’s proprietary Own Network, which spans more than 50 banking and payment corridors across key international markets. Together, we are creating a foundation for payment, settlement, and financial services that can better serve customers across untapped borders and markets.”
Meanwhile, Mohammad Raafi Hossain, CEO and Co-Founder of Fasset, added that artificial intelligence systems could play a growing role in financial activity, including money transfers and wealth management.
Hossain said the partnership aims to build infrastructure that supports those future use cases.
The companies described potential applications that include AI assistants managing salary transfers, allocating funds between currencies and investment products, and automating financial tasks for households and businesses operating across multiple countries.
SBI expands digital asset footprint
The agreement adds another digital asset initiative to SBI Group’s crypto-related business portfolio.
Earlier this month, SBI Shinsei Bank launched a promotional campaign that linked deposit interest payments to cryptocurrency exchange vouchers redeemable for Bitcoin, Ether, and XRP through SBI VC Trade. The program allows deposit customers to receive crypto-linked rewards alongside traditional interest payments.
SBI Group has also expanded its stablecoin activities through SBI VC Trade. In March, the exchange introduced a USDC lending service that allows customers to lend stablecoins to the platform in exchange for yield.
The group has pursued additional crypto-related businesses across investment products and exchange operations. As previously covered, SBI Securities was preparing cryptocurrency investment trust products through SBI Global Asset Management as Japan advances plans that could permit crypto investment trusts and spot crypto ETFs by 2028.
SBI Group has also explored acquiring a larger stake in crypto exchange Bitbank after integrating Bitpoint Japan into SBI VC Trade earlier this year.
The latest partnership arrives as Japan continues work on digital asset regulation. SBI Remit and Fasset said Japanese financial institutions have increased activity in tokenized payments and stablecoin development, while cross-border transfers still rely heavily on traditional banking infrastructure that can involve higher costs and longer settlement periods.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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