SBI Group and Circle Set to Launch USDC in Japan on March 26

• Circle will launch USDC in Japan through SBI Group on March 26.
• USDC is the first global dollar stablecoin approved for use in Japan.
• SBI VC Trade received regulatory approval to list stablecoins.

Circle will officially introduce its USDC stablecoin in Japan through SBI Group on March 26. SBI VC Trade obtained regulatory clearance for stablecoin management that enabled this business move. As a result, USDC becomes the first global dollar stablecoin to secure legal access to the Japanese market.

The launch marks a major development for Circle, which has spent over two years preparing for Japan’s regulatory landscape. Through its partnership with SBI Holdings, Circle aims to expand USDC usage in digital asset trading and financial services. Moreover, the initiative aligns with Japan’s broader efforts to modernize financial systems and boost innovation.

The introductory phase of this launch will occur through the trading platform SBI VC Trade which belongs to SBI Group. It will soon expand to other major platforms like Binance Japan, bitbank, and bitFlyer. Circle confirmed that selected users began testing the coin on March 12 as part of a controlled trial phase.

USDC to Lead as First Approved Global Dollar Stablecoin in Japan

The Japanese market allows only USDC to operate as their global dollar-backed stablecoin authorization. The Financial Services Agency (FSA) approved stablecoins following changes that let licensed firms list their tokens for use. SBI VC Trade obtained the position of first exchange to meet the requirements of the newly established framework.

Circle’s CEO stated that the launch would unlock significant opportunities in finance, payments, and cross-border commerce. As part of its initiative USDC presents benefits for streamlined foreign exchange operations as it bolstered both payment transfers and payment processing. The alliance seeks to establish quick and effective digital dollar monetary liquidity services throughout the region.

CoinGecko reports USDC maintains its position as the second largest stablecoin worldwide and its market capital value currently sits at $59.7 billion. The stablecoin advances its market position against Tether by dedicating itself to both transparency and regulatory compliance. Following its entry into Japan USDC will extend its services into Asia’s regulated market systems.

Circle and SBI Holdings Target Web3 and Financial Innovation

Circle and SBI Holdings confirmed that their joint effort would support the growth of Web3 infrastructure across Japan. Through this collaboration, both parties will enhance digital asset access regulation while advancing blockchain adoption in Japan. The companies view this move as essential for transforming Japan’s finance sector into a modern one.

The head of SBI indicated the introduction of USDC would better access financial services and boost crypto service development speed. The integration enables Japan to achieve digital transformation leadership by following regulatory standards for stablecoins in traditional financial applications.

Stablecoins gained additional regulatory freedoms from Japanese authorities because they support the advancement of financial technology. The Federal Services Agency adopted new policies during February that foster stablecoin advancement. This movement indicates that Japan seeks to develop secure, modern financial instruments.

Japan opened its borders for foreign stablecoins in 2023, enabling SBI and other firms to develop their crypto services. Thanks to this transformation in regulatory policies, the market gained access to regulated digital currencies. Since its implementation, the FSA has introduced additional measures to support more financial innovations.

According to Commissioner Hideki, stablecoins represent an opportunity for remittance systems, as they are safe alternatives to existing settlement processes. The updates provide established guidelines for companies who want to maintain legal compliance. Japanese digital finance will likely witness an increase in worldwide enterprises entering its market.