Cardano founder Charles Hoskinson has reassured the community that a major announcement involving Midnight is still on the way.
His comments came after rumors emerged that the highly anticipated Japanese partnership he teased in June had collapsed following a partnership between Japanese financial giant SBI Group and the Solana Foundation.
SBI-Solana Partnership Sparks Speculation
As previously reported, SBI Group partnered with the Solana Foundation as part of efforts to position Japan as a leading hub for institutional on-chain finance in Asia. Consequently, some Cardano community members questioned whether SBI was the same company Hoskinson had referenced several weeks earlier.
One community member suggested that the newly announced SBI–Solana partnership could have been the deal Hoskinson had previously hinted at, arguing that the agreement may have fallen through before SBI ultimately chose Solana.
The speculation quickly gained traction because Hoskinson had earlier revealed that Midnight was close to securing a significant partnership in Japan.
Hoskinson Separates SBI Partnership From Midnight Deal
However, Hoskinson swiftly dismissed the rumors and made it clear that the SBI–Solana partnership is unrelated to Midnight.
According to the Cardano founder, the SBI collaboration had “nothing to do” with the agreement he has been discussing. He also stressed that the anticipated announcement is “still pending,” indicating that the rollout remains ongoing rather than being canceled.
Notably, his clarification reassures the Cardano community that the previously teased Japanese initiative has neither been replaced nor abandoned.
This had nothing to do with that deal. ANN still pending
— Charles Hoskinson (@IOHK_Charles) July 14, 2026
Initial Midnight Teaser
Hoskinson’s latest remarks refer back to comments he made in June, when he revealed that Midnight secured a significant partnership with a major Japanese company.
At the time, he admitted he was surprised that Cardano had managed to attract such a prominent partner. Although he declined to identify the company, he disclosed that the initiative revolves around NIGHT liquidity in Japan.
Following his latest clarification, the Cardano community continues to await the long-promised announcement.
Why the Midnight Partnership Matters
Midnight remains one of the most significant technological developments within the Cardano ecosystem. Designed as a complementary privacy-focused blockchain, it enables organizations to process sensitive financial, enterprise, and regulatory data while preserving the security and transparency of Cardano’s public ledger.
Since its launch, Midnight has already attracted several high-profile partners, including Google and Telegram-related AlphaTON Capital. Consequently, a successful partnership with a major Japanese company could further strengthen Midnight’s institutional credibility and expand its presence in one of Asia’s most important financial markets.