Chiara Bianchi
Circle is set to officially introduce its USDC stablecoin in Japan on March 27, launching initially on SBI VC Trade, a cryptocurrency exchange operated by SBI Group. The move marks a significant step in Circle’s expansion strategy as it seeks to establish a stronger presence in the Japanese market.
The company confirmed in an announcement on Tuesday that USDC will first be available through Circle Japan KK on the SBI VC Trade platform. Plans are also underway to list USDC on other Japanese exchanges, including Binance Japan, bitbank, and bitFlyer.
Regulatory Approval Paves the Way for USDC Adoption
The upcoming launch follows SBI VC Trade’s recent regulatory approval to process USDC transactions in Japan. The approval aligns with Japan’s updated stablecoin regulations, which came into effect in June 2023. Under these rules, service providers must register under the Funds Settlement Act and the Banking Act to facilitate stablecoin circulation.
As part of its expansion, Circle has also entered a joint venture with SBI Holdings following a strategic agreement signed in 2023. This collaboration aims to accelerate the adoption of USDC for digital asset trading, cross-border finance, payments, and foreign exchange (FX) transactions.
Circle Becomes First Approved Stablecoin in Japan
Jeremy Allaire, co-founder and CEO of Circle, highlighted the significance of this development in a statement on X, noting that USDC is now the first and only stablecoin to receive approval for use in Japan.
“We have spent over two years working closely with Japan’s regulators, banking institutions, and key industry partners to bring USDC to the Japanese market,” Allaire stated. He emphasized that the launch would unlock significant opportunities beyond digital asset trading, including payments, FX settlements, and broader financial applications.
With Japan’s stablecoin framework in place, Circle’s USDC launch sets the stage for wider adoption in regulated financial markets, reinforcing its position as a leading global stablecoin issuer.
