Circle Deepens Japan Commitment as SBI Group Prepares USDC Launch
SBI VC Trade is preparing for an imminent rollout of USDC, with domestic exchanges planning to list and distribute USDC in the near future.

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Circle co-founder and CEO Jeremy Allaire said on X the development would unlock “tremendous opportunities” for Japan’s digital assets markets, powering payments, cross-border finance, commerce, and FX, among other use cases for USDC.

The approval builds on a partnership between Circle and SBI Holdings that began in 2023, combining USDC distribution with banking and Web3 technology for the Japanese market.

USDC is fully reserved and backed 100% by cash and cash-equivalent assets, with reserves held at regulated financial institutions that publish third-party monthly attestations, according to documentation from Circle.

Circle Internet Financial, the Boston-headquartered U.S. firm behind the USDC stablecoin, is deepening its ties to Japan’s burgeoning digital assets market.

Japanese SBI VC Trade, a crypto exchange operating as a subsidiary of SBI Holdings, a major internet-based financial conglomerate in the country, is expected to play a key role in Circle's commitments in Japan.

After receiving regulatory approval earlier this month, SBI VC Trade now plans to leverage USDC in Japan, marking the first token of its kind approved under Japan’s stablecoin regulatory framework