- Circle has partnered with SBI Holdings to introduce USDC in Japan, aiming to accelerate adoption of this dollar-pegged stablecoin.
- Japan’s Financial Services Agency (FSA) recently approved USDC, making it the first legally recognized international dollar stablecoin under Japan’s stablecoin framework.
- Trading of the USDC pair on the SBI VC Trade platform will begin on March 26, 2025.
Circle, the global fintech firm, announced a strategic partnership with SBI Holdings to expand support for its USD Coin (USDC) in Japan. This collaboration marks an important step toward broader stablecoin adoption in the country and follows regulatory approval granted to SBI VC Trade, the cryptocurrency exchange operated by SBI Holdings, by the Financial Services Agency (FSA) on March 4, 2025.
The FSA’s approval designates USDC as the first international dollar-backed stablecoin to be legally recognized within Japan’s regulatory framework for stablecoins.
Major exchanges to list USDC
For the past two years, Circle has worked closely with banking partners and regulators to ensure compliance with Japan’s transparent stablecoin regulations. Through the new partnership, Circle and SBI Holdings aim to accelerate USDC adoption by leveraging Circle’s platform and technology. SBI VC Trade will roll out full-scale USDC trading on March 26, 2025, following a limited pilot phase for selected users.
The launch is expected to improve liquidity in Japan’s crypto markets and attract institutional investors. Major exchanges, including Binance Japan, bitbank and bitFlyer, have also committed to listing and distributing USDC, further broadening its reach and accessibility across Japan.
Circle’s expansion in Japan
Circle is reinforcing its commitment to Japan through a local entity, Circle Japan KK, and partnerships with SBI Holdings and leading exchanges. The collaboration is expected to boost the usefulness and availability of digital assets for consumers and businesses, supporting digital payments, settlements and treasury operations across the country.
Japan’s progressive stance on digital finance and stablecoin regulation positions it as a global leader in the stablecoin market. With a dedicated local presence, Circle is well placed to accelerate stablecoin adoption, strengthen market infrastructure and support companies and institutions in advancing digital finance innovation. The arrival of USDC in Japan is poised to reshape the country’s digital finance ecosystem.
Pegged to the U.S. dollar, USDC could enhance the efficiency of cross-border transactions, particularly those involving the United States. This potential is meaningful for Japan’s remittance market, which handles billions of dollars annually. In addition, USDC’s transparency and stability make it an attractive option for digital transactions and align with Japan’s goals to support Web3 businesses and digital financial innovation.