SBI Drives Japan’s Stablecoin Adoption with USDC

• SBI VC Trade became the first company in Japan to receive approval as an Electronic Payment Instruments Business Operator, allowing it to handle USDC transactions.
• In November 2023, SBI Holdings partnered with Circle Internet Financial, the issuer of USDC, to expand stablecoin adoption and improve digital payment efficiency in Japan.
  

SBI Holdings has become the first company in Japan to receive approval as an Electronic Payment Instruments Business Operator.  After completing registration, SBI VC Trade plans to begin its first USDC stablecoin transactions on March 12, offering access to a limited group of users.

This new registration, granted on March 4, 2025, marks a significant step forward in integrating stablecoins into Japan’s financial system. The approval allows the company to handle USD Coin (USDC), a well recognized cryptocurrency pegged to the US dollar.

A Key Step in Reducing Japan’s Stablecoin Regulation

On June 1, 2023, a regulation was put in place for businesses distributing electronic payment instruments tied to fiat currency in Japan that they must register under the Banking Act and Fund Settlement. 

This regulation made sure that stablecoin transactions were properly regulated and backed by reliable financial institutions. 

However, On March 4, SBI VC Trade confirmed the completion of Japan’s first registration for stablecoin transactions, which would now allow the companies to begin handling USDC.

With full approval, SBI VC Trade aims to be among the first financial platforms in the country to support cryptocurrency trading with USDC. With this new certification, the company is set to release a beta version of USDC on March 12, 2025, for a limited group of users before launching full-scale operations.

The CEO of SBI VC Trade Tomohiko Kondo shared on X that the platform had received official confirmation from the Kanto Regional Financial Bureau’s Tokyo office for its registration as an electronic payment instrument trading business operator. 

He stated that SBI VC Trade is the first and only company in Japan to secure a stablecoin license and he emphasized the firm’s commitment to achieving full USDC support.

SBI Holdings has been at the forefront of blockchain adoption in Japan. In November 2023, the company entered a strategic partnership with Circle Internet Financial, the issuer of USDC. 

Circle, headquartered in New York, is known for issuing one of the most transparent and well-regulated stablecoins globally. The collaboration between the both companies aims to enhance the circulation of USDC within Japan’s financial ecosystem, which would bring about more efficient and cost-effective digital payment solutions to businesses and even individuals.

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