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- SBI VC Trade launched USDC in Japan on March 26, marking the first regulatory approval for a global stablecoin in the country.
- Binance Japan, bitbank, and bitFlyer to list USDC soon, expanding access to regulated stablecoin trading.
Circle, the issuer of the second largest stablecoin, USDC has now officially entered Japan’s digital asset market, as it secures a regulatory approval to roll out USDC in partnership with SBI Holdings. This decision will mark a significant shift in making USDC the first global stablecoin which will be fully approved under Japan’s Financial Services Agency (FSA) framework. This innovation was announced via Circle’s press release statement on March 24.
By teaming up with SBI and securing listings on major Japanese crypto exchanges positioning USDC as a trusted and regulated digital dollar for businesses. It will further initiate investor’s interest in Japan’s expanding blockchain economy.
SBI VC Trade to Lead USDC Rollout in Japan
Circle’s expansion is anchored by a joint venture with SBI Holdings. SBI VC Trade, a subsidiary of SBI, and Japan’s largest financial conglomerate has received approval to introduce USDC into the market, with an official launch set for March 26.
This achievement follows two years of collaboration between Circle, regulatory bodies, and banking partners to navigate Japan’s strict stablecoin regulations.
“Japan has long been at the forefront of Web3 and blockchain innovation,” said Jeremy Allaire, CEO of Circle via a post on X.
“With clear regulatory guidelines and strong institutional support, USDC is well-positioned to serve as a secure and transparent digital dollar for Japan’s evolving financial ecosystem.” He added.
SBI Holdings CEO Yoshitaka also expressed this sentiment, stating,
“This initiative enhances financial accessibility and fosters digital asset innovation, aligning with our broader vision for the future of payments and blockchain-based finance in Japan.”
Major Crypto Exchanges to List USDC
In addition to SBI VC Trade, other leading Japanese exchanges like Binance Japan, bitbank, and bitFlyer are now committed to list USDC in the near future. This expansion will improve stablecoin liquidity, providing both retail and institutional investors with a regulated and secure means of transacting in digital dollars.
According to CoinGecko, USDC currently has a $59.75 billion market cap, securing its position as the second-largest stablecoin globally after Tether (USDT), which commands a 61.93% market share.
Meanwhile,Tether faces increasing regulatory scrutiny in regions like Europe, USDC is now gradually positioning its acceptance as a fully regulated and transparent alternative.
Beyond trading, Circle’s presence in Japan will extend interest in Stablecoin adoption in cross border transactions, treasury operations and digital payments. Circle will now provide businesses with reliable digital payments solutions as it now integrates USDC into Japan’s financial system.
USDC is fully reserved, backed 100% by cash and cash-equivalent assets held at regulated financial institutions, with third-party monthly attestations ensuring transparency. This regulatory compliance is a cornerstone of Circle’s strategy, as demonstrated by its recent expansion into other global markets, including the Philippines and Dubai.
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