Circle’s USDC Gains Green Light as Japan’s First U.S. Dollar Stablecoin

Circle’s USDC Becomes First USD Stablecoin Licensed in Japan

SBI VC Trade, a subsidiary of SBI Holdings, has made history as the first Japanese exchange to secure approval for listing and distributing Circle’s USDC stablecoin under the nation’s revised payments regulations.

Japan’s Financial Services Agency (JFSA) has officially designated SBI VC Trade as an Electronic Payments Provider, allowing it to handle foreign stablecoins. This follows 2023 regulatory reforms that permitted licensed entities to offer stablecoins under strict compliance measures.

“USDC is now the first and only global dollar stablecoin approved for use in Japan,” Circle CEO Jeremy Allaire stated.

The move signals Japan’s increasing acceptance of stablecoins and paves the way for further institutional adoption of digital assets in the region.