Circle’s USDC Launches in Japan

TL;DR

• USDC is set to become the first USD stablecoin in Japan.

• SBI VC Trade will list the stablecoin after becoming an Electronic Payments Provider under Japan’s financial regulations.

USDC to Become the First USD Stablecoin in Japan

SBI VC Trade, a subsidiary of financial giant SBI Holdings, is now registered as an Electronic Payments Provider in Japan. This regulatory approval, granted by the Japan Financial Services Agency (JFSA) under its new framework, allows the financial institution to offer stablecoins.

Thanks to this latest development, SBI VC Trade will offer Circle’s USDC, making it the first USD stablecoin in Japan. Circle’s CEO Jeremy Allaire announced this latest development via X, adding that,

"USDC becomes the first and only global dollar stablecoin to become approved for use in Japan." 

USDC becomes the first and only global dollar stablecoin to become approved for use in Japan!

Congrats to SBI for being the first to be permitted to list and distribute USDC.

And much more to come from Circle in Japan soon. https://t.co/nO732URA7R

— Jeremy Allaire - jda.eth / jdallaire.sol (@jerallaire) March 4, 2025

In 2023, Japan made some regulatory changes, allowing licensed intermediaries to list foreign stablecoins. However, they can only do so after the country’s JFSA approves their listing.