Japan’s SBI Holdings is set to establish a joint venture with U.S. asset manager Franklin Templeton, focusing on digital assets. SBI will hold a 51% stake in the new venture, while Franklin Templeton will own 49%.
This move aims to position both companies ahead of the anticipated launch of digital asset ETFs in Japan, following recent developments in the U.S., where spot Bitcoin and Ether ETFs have been introduced.
Godfrey BenjaminFranklin Templeton, managing assets worth $1.5 trillion, is known for its investments in cryptocurrency ETFs, including those for Bitcoin and Ethereum. More to the point, the firm is now exploring a potential Solana ETF. SBI Holdings, a significant Japanese financial player with extensive interests in digital assets, has been a long-time partner of Ripple, the company behind XRP.
SBI, Ripple and XRP
SBI’s relationship with Ripple began in 2017, when SBI Remit started using Ripple’s system for international money transfers. By 2021, SBI Remit began utilizing XRP as a bridge currency, facilitating quicker and more cost-effective transactions from Japan.
The service has since expanded to include remittances to the Philippines, Vietnam and Indonesia. Additionally, SBI Motor Japan adopted XRP as its native currency in 2022.
Gamza KhanzadaevThe new partnership between SBI Holdings and Franklin Templeton raises speculation about the possibility of an XRP ETF. Ripple executives have previously hinted at such a development, and given SBI’s integration of XRP, this venture could set a precedent on the crypto ETF market and generate significant interest.
Alex Dovbnya
Vladislav Sopov
Dan Burgin