SBI Holdings aims to achieve ¥5 trillion ($32 billion) in assets under management (AUM) within three years by launching Bitcoin and XRP ETFs on the Tokyo Stock Exchange (TSE). The Japanese financial giant is awaiting regulatory approval from Japan's Financial Services Agency (FSA), which is considering a new framework to classify cryptocurrencies as financial products. SBI has been a strong supporter of XRP, collaborating with Ripple on cross-border payment solutions and blockchain-based remittance systems. Japan is emerging as a global hub for crypto innovation, with several projects underway. The Japan Securities Clearing Corporation recently partnered with Mizuho Financial Group and Nomura Holdings to test blockchain technology for government bond settlements. Additionally, SBI Group and Visa have introduced crypto-linked reward cards, while SBI Securities and Rakuten Securities are preparing to launch crypto investment products integrated into their trading platforms.