Circle Partners with SBI Holdings to Introduce USDC Stablecoin in Japan

Jimmy Aki
Last Updated:

Please note that we are not authorised to provide any investment advice. The content on this page is for information purposes only.

Circle is launching USDC in Japan through a partnership with SBI Holdings. This marks a major milestone for stablecoin adoption in the country as global financial regulators’ support for stablecoins grows, further boosting crypto adoption.

USDC Achieves First Legal Recognition Under Japan’s Comprehensive Stablecoin Framework

According to a March 25 press release, SBI VC Trade, a crypto exchange under SBI Holdings, will begin full-scale trading of USDC on March 26.

Notably, USDC becomes the first international dollar stablecoin to gain legal recognition under Japan’s stablecoin framework following approval from the Financial Services Agency.

Circle has spent the past two years collaborating with regulators and banking partners to make this possible.

CEO Jeremy Allaire emphasized that Japan’s clear and transparent stablecoin regulations present significant opportunities for cross-border transactions with digital payments, as well as broader financial innovation.

He added that Circle is excited to offer a secure and transparent digital dollar to support Japan’s evolving digital economy.

SBI Holdings views the move as key to improving the accessibility of digital assets for both businesses and consumers.

More so, beyond SBI VC Trade, USDC will soon be available on platforms such as Binance Japan, bitFlyer, and bitbank, further expanding its reach in the market.
USDC’s market capitalization stands at $59.75 billion, bolstered by $2.6 billion minted in the last 30 days, according to DefiLlama.

While Tether currently holds 61.87% of the stablecoin market, Circle remains optimistic as it works to match evolving crypto regulations, especially in Europe, and open new avenues for its stablecoin.

Global Regulatory Support and Market Expansion for Stablecoins

Global regulators now back stablecoins that meet their strict standards, enhancing trust in digital asset integration in established financial systems.

Outside Japan, Circle is expanding USDC adoption. On March 20, Jeremy Allaire shared on X that GCash—the Philippines’ largest digital wallet with about 100 million users—added support for USDC, boosting its role in a remittance market processing over $38 billion annually.

In Dubai, USDC and Circle’s euro-backed EURC became the first stablecoins to be permitted to operate under the new Dubai Financial Services Authority framework. This framework is now available to companies in the region’s economic free zone for financial services, treasury operations, and payments.

Stablecoins are becoming instrumental in smoothing crypto adoption by providing a stable, accessible bridge between traditional finance and digital currencies.

By anchoring their value to fiat currencies, they mitigate volatility and offer users a dependable medium for transactions and savings.

Tether’s relocation to El Salvador, supported by its Digital Assets Service Provider license, underscores its commitment to enhancing financial inclusion.

Tether’s recent integration with Binance on the Toncoin Network further improves transaction speed, reduces fees, and bolsters security, which further increases public confidence in the stablecoin.

Complementing these moves, PayPal’s partnership with Xoom for stablecoin expansion reflects a broader industry shift toward blockchain-based solutions.

Together, these initiatives demonstrate how stablecoins bridge gaps in traditional finance and foster digital economic growth in emerging markets.

About Jimmy Aki PRO INVESTOR

Based in the UK, Jimmy is an economic researcher with outstanding hands-on and heads-on experience in Macroeconomic finance analysis, forecasting and planning. He has honed his skills having worked cross-continental as a finance analyst, which gives him inter-cultural experience. He currently has a strong passion for regulation and macroeconomic trends as it allows him peek under the global bonnet to see how the world works.