Credit Saison Launches $50M Onigiri Capital for Blockchain Startups

Credit Saison, Japan’s third-largest credit card issuer, has unveiled a $50 million investment fund, Onigiri Capital, to accelerate growth in blockchain-based real-world asset (RWA) applications. Managed by Saison Capital, the fund has already raised about $35 million from internal and external investors and is expected to close at $50 million.

The initiative highlights Asia’s rising role in blockchain finance and aims to bridge the gap between U.S. startups and Asian financial markets. Onigiri Capital will focus on early-stage companies building payment tools, tokenization platforms, stablecoins, decentralized finance (DeFi), and digital economic infrastructure. The strategy targets startups that can expand into markets such as Japan, Singapore, Indonesia, Korea, Malaysia, and the Philippines, where demand for RWA innovation continues to grow.

Fund managers emphasize that many U.S. blockchain startups lack resources to navigate Asia’s regulatory and institutional landscape. Onigiri Capital offers not only capital but also access to regional expertise, financial networks, and distribution channels. This positions the fund as a strategic partner for companies aiming to scale internationally while addressing compliance and market entry challenges.

Credit Saison, listed on the Tokyo Stock Exchange (8253.T), operates across financial services, real estate, and entertainment. Its stock currently trades at around ¥3,913 ($26.6), within a 52-week range of ¥2,781 to ¥4,269.

The launch comes amid a challenging crypto venture funding environment, with high interest rates and the fallout from industry collapses like FTX dampening sentiment. However, investor confidence in blockchain-driven financial services and real-world asset applications remains strong. Onigiri Capital underscores Credit Saison’s belief that RWAs and DeFi will play a crucial role in the next wave of blockchain adoption, making Asia a hub for global innovation.