SBI Partnership Paves Way for Circle to Roll Out USDC in Japan on March 26.

Circle and SBI Set to Launch USDC in Japan on March 26 After Regulatory Green Light

Circle, in partnership with SBI Holdings, is gearing up to launch USDC in Japan on March 26, following recent approval from the Japan Financial Services Agency (JFSA). This development strengthens Japan’s position as a key market for regulated stablecoin adoption.

“Japan has consistently led the way in Web3 and blockchain innovation, supported by a well-defined regulatory framework for stablecoins,” said Jeremy Allaire, Circle’s co-founder and CEO, in an official statement.

Allaire also shared on X that Circle had been engaging with Japanese regulators for two years to ensure compliance, reflecting the company’s commitment to a regulated digital asset ecosystem.

SBI Holdings’ chairman and CEO, Yoshitaka Kitao, emphasized the significance of this move, stating, “This launch will enhance financial inclusion and accelerate digital asset innovation, bringing us closer to our vision for the future of blockchain-driven finance in Japan.”

Currently, USDC has a market capitalization of approximately $59.7 billion, according to CoinGecko data. Adoption of the stablecoin continues to expand, with GCash, the largest digital wallet in the Philippines, recently integrating USDC support.

A 2024 Circle report highlighted that Asia-Pacific leads global digital currency transactions, accounting for 29% of total volume, surpassing Western Europe (22%) and North America (19%).

About The Author

ctleditor

See author's posts