This week, Japan initiated $XRP payments for its 44 million Rakuten users, showcasing the significant financial advancements tied to the cryptocurrency. Live bank pilot tests revealed that $XRP offers a remarkable 60% reduction in settlement costs compared to traditional SWIFT transactions. Additionally, a regulated blockchain token platform has been completed, further solidifying the technology’s role in Japan’s financial ecosystem.
At the forefront of these developments is Emi Yoshikawa, the former Vice President of Strategy and Operations at Ripple. She recently established the Across Ventures Fund I, a $100 million fund-of-funds that has attracted backing from SBI Holdings as its anchor limited partner. Yoshikawa’s eight-year tenure at Ripple was marked by her leadership in corporate strategy, international expansion, and the launch of Ripple’s ecosystem fund. She also served on the board of SBI Ripple Asia, which became instrumental in establishing $XRP’s institutional presence in Japan.
SBI’s CEO emphasized the company’s strong relationship with Yoshikawa, stating, “We have built a strong relationship with Ms. Yoshikawa based on mutual trust since her time at Ripple, where she played a central role in successfully advancing strategic joint ventures with SBI Holdings.” Following her departure from Ripple, Yoshikawa founded Across Ventures and SBI has continued to support her endeavors.
The Across Ventures fund aims to invest in specialized micro venture capital firms focused on blockchain and fintech, artificial intelligence, climate technologies, and deep tech. The specific goal is to provide Japanese corporations with systematic access to early-stage Silicon Valley innovations that have traditionally been inaccessible. SBI’s contribution is expected to extend beyond funding; it will leverage its extensive network across Asian banking and technology to bolster deal sourcing and investment reviews.
April 2026 has witnessed a surge of institutional activity surrounding $XRP and the XRP Ledger (XRPL) in Japan. SBI Ripple Asia has successfully completed a token issuance platform on the XRPL and received registration under Japan’s Payment Services Act. Furthermore, Japanese bank pilots have demonstrated that $XRP reduces cross-border transaction costs significantly compared to SWIFT. SBI even launched a 10 billion yen blockchain bond in February, paying investor rewards in $XRP.
The ecosystem that Yoshikawa helped construct while at Ripple is undergoing expansive growth. In her announcement regarding Across Ventures, she stated, “Across Ventures is committed to building a platform for co-creating next-generation industries together with Japanese enterprises.” The $100 million fund represents not a departure but a continuation of the Ripple-SBI story, with Yoshikawa now operating independently with her own capital but still anchored by the institution she previously collaborated with to integrate $XRP into the financial landscape of Japan a decade ago.
