Osaka pilot project puts blockchain at the core of export factoring
SBI XDC Network APAC, print and digital services group TOPPAN and crypto infrastructure company Ginco are jointly launching a trade finance demonstration project in Osaka, Japan. The project has been supported by Osaka Prefecture's fiscal year 2026 financial market formation subsidy, a government plan to encourage financial technology and blockchain innovation in the region.
The demonstration project focuses on export factoring-a financing method that allows companies to release cash from accounts receivable before the buyer makes payment. The pilot project studied how recording trade transaction data and corporate identity information on the XDC network can reduce friction among local companies in the process and eliminate the cumbersome paper manual steps that slow down cross-border transactions.
SBI XDC Network APAC is a joint venture between SBI Holdings and TradeFinex Tech Ltd., the United Arab Emirates company that operates the XDC network. TOPPAN plays a particularly important role in the pilot, as its group company TOPPAN Edge became the first institution in Japan to obtain qualified vLEI Issuer (QVI) qualifications in the verifiable legal entity identifier (vLEI) ecosystem in September 2025, thus playing a key role in issuing verifiable digital corporate identities to demonstration project participants.
In the field of international transactions and finance, it has been difficult in the past to verify whether a company actually exists and who it represents. The Osaka demonstration project aims to address this gap by anchoring corporate identity data on the blockchain.
Government support reflects Osaka's financial technology advancement
In addition to export factoring, the project is also committed to improving Know Your Business (KYB) verification, customer consultation processing and collection processes-three aspects that still rely heavily on manual operations for many small Japanese exporters.
Subsidies supporting the project are in line with broader regional strategies. Osaka promotes the demonstration of innovative financial services by providing subsidies and other support to cultivate innovative financial products and markets. In March 2025, the second phase (covering fiscal years 2026 - 2030) set new goals, including attracting 50 foreign financial companies, cultivating 1200 start-ups and raising 160 billion yen. SBI XDC's cooperation with TOPPAN fully fits this agenda.
For the XDC ecosystem, the Osaka pilot represents a concrete step towards institutional adoption in Japan, one of Asia's most important trade finance markets.

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