Catenaa, Wednesday, March 26, 2025- Circle will debut its USDC stablecoin in Japan on March 26, marking the first approved foreign stablecoin launch in the country.
SBI VC Trade, a crypto exchange under financial giant SBI Group, will be the first platform to list USDC, with other local exchanges, including Binance Japan, bitbank, and bitFlyer, expected to follow.
The launch follows regulatory approval earlier this month allowing SBI VC Trade to process USDC transactions. The move is part of a broader expansion strategy by Circle, which has formed a joint venture with SBI Holdings after signing a 2023 agreement for a “comprehensive business alliance.”
“Circle becomes the first and only stablecoin to be approved for use in Japanese markets,” Circle CEO Jeremy Allaire said in a statement. He emphasized the company’s two-year effort engaging with regulators and industry players to enable USDC in Japan, opening avenues for digital asset trading, payments, and cross-border finance.
Japan revised its stablecoin regulations in June 2023, requiring service providers to register under the Funds Settlement Act and the Banking Act. The move paved the way for stablecoins to be legally issued and circulated within the country’s financial framework.
With Japan’s approval, Circle aims to capitalize on the growing adoption of digital assets while strengthening USDC’s presence in regulated markets.
