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Japan's SBI VC Trade completes regulatory registration to process USDC transactions

The company said that it plans to release a beta version of USDC-related services on March 12 for certain users following system maintenance. "We aim to further expedite the full-scale introduction of USDC handling," SBI VC Trade said in a translated statement.

SBI Group noted that it signed an agreement with Circle, the issuer of USDC, back in 2023 "aimed at a comprehensive business alliance."

The Japanese financial giant has been actively expanding into crypto. In December 2024, it acquired DMM Bitcoin, a local crypto exchange that was shut down following a $300 million hack. DMM Bitcoin has been transferring customer accounts and custodial assets to SBI.

https://www.theblock.co/post/344406/japans-sbi-vc-trade-completes-regulatory-registration-to-process-usdc-transactions