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USDC remains the second largest stablecoin by market cap at $59.7 billion, trailing only Tether’s USDT $1.00 at $143.8 billion, CoinGecko data shows.
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The recognition allows companies operating in the Dubai International Financial Centre — a free economic zone — to integrate the two stablecoins into a range of digital asset applications, including payments, treasury management and services.
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Meanwhile, USDC and Circle’s euro-backed EURC (EURC) stablecoin were recognized as the first stablecoins under the Dubai Financial Services Authority’s new regime on Feb. 24.
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SBI Holdings CEO and president Yoshitaka Kitao said the USDC launch would enhance financial accessibility and drive crypto innovation in Japan’s evolving digital economy.
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“[This] unlocks tremendous opportunities not just in trading digital assets, but more broadly in payments, cross border finance and commerce, FX,” he added.
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The regulatory approval comes after two years of back-and-forth negotiations with regulators, banking partners and industry players, Circle’s Jeremy Allaire said in a March 24 X post.
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Japan’s bitbank and bitFlyer are two of the country’s largest crypto exchanges, having processed more than $25 million each over the last day with over 1.85 million visits to their websites in the last month.
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Circle is also looking to list USDC on Binance Japan, bitbank and bitFlyer in the near future.
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The news comes three weeks after SBI VC Trade secured an industry-first regulatory approval on March 4 to list USDC under the Japan Financial Services Agency’s stablecoin regulatory framework.
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USDC USDC $0.9999 will first be listed on the “SBI VC Trade” crypto exchange under a joint venture between its parent firm — Japanese financial conglomerate SBI Holdings — and Circle’s Japanese entity Circle Japan KK, Circle said in a March 24 statement.
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Circle said it will officially launch its stablecoin in Japan on March 26 after one of its local partners received regulatory approval to list the US dollar stablecoin three weeks ago.
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Circle announced that its USDC stablecoin will launch on Japan’s SBI VC Trade crypto exchange on March 26.
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USDC stablecoin receives approval for use in Japan, says Circle
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On March 3, the Bank of Israel’s Steering Committee issued an initial design for an in-house CBDC — outlining its supporting ecosystem, functionality, technical design, regulatory considerations and next steps.
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The Bank of Israel released a preliminary design proposal for a digital shekel (DS), Israel’s potential central bank digital currency (CBDC), despite no solid intent as yet for an official launch.
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Meanwhile, the SEC’s newly created Crypto Task Force has met with several industry representatives to discuss regulations and ways to create a clear framework for policing digital assets.
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Since President Donald Trump took office, the SEC has dismissed its lawsuits against Coinbase, OpenSea, Gemini and Robinhood, signaling a changing of the guard at the agency.
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Kraken described the lawsuit as a “wasteful, politically motivated campaign.” With the lawsuit in the rearview mirror, it “clears the path toward a stable, forward-thinking regulatory regime,” the exchange said.
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Kraken said that the suit was dropped with no penalties paid and no changes to the exchange’s business.
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The executive said this is primarily because of the evolving nature of real estate. The OKX MENA CEO said that with the surge of interest in crypto and RWAs, it was only natural for the two industries to converge.
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