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ZEC $1,370 SBI Holdings, Mesh & Money Forward Form Japan Joint Venture For Stablecoin Payments
SBI DigiTrust tests stablecoin QR payments with NICE and DSRV for Japan-Korea travel, while SBI Holdings, Mesh and Money Forward confirmed a joint venture.
Key takeaways
- The test runs to December. SBI DigiTrust and partners expect their joint verification work to finish by the end of December 2026.
- NICE brings 1.2 million merchants. NICE brings a Korean merchant network spanning roughly 1.2 million merchants into the joint study.
- Key details remain unnamed. The partners have not named a stablecoin, blockchain, exchange model or commercial launch date yet.
What happened
SBI DigiTrust has begun testing stablecoin remittances and QR payments linking Japan and South Korea. It is working with NICE Information & Telecommunication and DSRV. The three companies aim to finish by the end of December 2026.
SBI Group said on Oct. 1 that the partners are testing a scenario where Japanese travelers scan QR codes to pay at NICE-affiliated merchants in South Korea. NICE said the companies signed their three-way memorandum at its Seoul headquarters on Sept. 30.
In a separate report, Bitcoinist said SBI Holdings, Mesh and Money Forward formed a Japan joint venture for stablecoin payments. The report said the move was confirmed on September 30, 2026.
Why it matters
The test looks at QR payments, fund flows, payment instructions, system connections and commercial viability together. NICE operates payment services across South Korea and supports roughly 1.2 million merchants nationwide, according to SBI's announcement.
DSRV handles the technical side. The partners have not named a stablecoin, blockchain, exchange model or commercial launch date yet.
What the data shows
- NICE contributes a Korean merchant network of roughly 1.2 million merchants to the study.
- The joint verification work is expected to finish by the end of December 2026.
- On Oct. 1, SBI Group said the partners are testing a scenario where Japanese travelers scan QR codes to pay at NICE-affiliated merchants in South Korea.
- NICE said the three-way memorandum was signed at its Seoul headquarters on Sept. 30.
What is still unclear
- The partners have not yet named a stablecoin, blockchain, exchange model or commercial launch date.
- The parties have not said which stablecoin will be used.
- The announcements do not identify a blockchain, wallet provider, exchange-rate system or settlement currency. No commercial launch date has been announced.
- The partners said the findings will inform whether a commercial service makes sense. The December target is a testing deadline, not a public launch date.
Questions readers ask
What is the SBI Holdings, Mesh and Money Forward joint venture?
A report said SBI Holdings, Mesh and Money Forward formed a Japan joint venture for stablecoin payments, confirmed on September 30, 2026. The report did not include ownership, timeline or product details.
Which stablecoin will SBI use for Japan-Korea payments?
The parties have not disclosed which stablecoin will be used. Their announcements do not identify a blockchain, wallet provider, exchange-rate system or settlement currency.
When will the SBI DigiTrust stablecoin test finish?
The partners expect their joint verification work to finish by the end of December 2026. The December target is a testing deadline rather than a public launch date.
How many merchants are in the NICE network?
NICE operates payment services across South Korea and supports roughly 1.2 million merchants nationwide, according to SBI's announcement. The current verification uses NICE-affiliated merchants as the test setting, though neither company has said that all 1.2 million locations will participate.
