Circle Launches USDC in Japan on SBI VC Trade, Expanding Its Reach

This launch is part of a broader effort to integrate the stablecoin into more local exchanges, including Binance Japan, bitbank, and bitFlyer.

USDC’s Entry into Japan: Regulatory Approval Secures Milestone

The USDC listing on SBI VC Trade follows the exchange’s regulatory approval earlier this month to process USDC transactions, making Circle the first stablecoin issuer authorized for use in Japanese markets. The move comes after Circle’s extensive engagement with Japan’s regulators and industry leaders over the past two years. The collaboration aims to create new opportunities in digital asset trading, cross-border payments, and more.

Circle Forms Joint Venture with SBI Holdings to Strengthen Local Presence

In addition to the launch, Circle has entered into a joint venture with SBI Holdings, which was formalized in 2023 as part of a comprehensive business alliance. This partnership aims to solidify Circle’s position in Japan and drive further adoption of USDC in various sectors, including payments, foreign exchange, and commerce.

Japan’s New Stablecoin Regulations Pave the Way for USDC

Circle’s successful entry into Japan is made possible by the country’s revised stablecoin regulations, which came into effect in June 2023. Under these regulations, service providers must register under the Funds Settlement Act and the Banking Act to facilitate the circulation of stablecoins.

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