Circle’s USDC Becomes First Stablecoin Approved for Use in Japan ⋆ ZyCrypto
The post Circle’s USDC Becomes First Stablecoin Approved for Use in Japan ⋆ ZyCrypto appeared on BitcoinEthereumNews.com.
Advertisement     Circle, the world’s second-largest stablecoin issuer, has received regulatory approval to introduce its USD Coin (USDC) to Japan. This milestone, announced on Tuesday, makes USDC the first global dollar-backed stablecoin authorized under Japan’s Financial Services Agency (FSA) framework. A strategic partnership with SBI Holdings supports circle’s entry into the Japanese market. According to the announcement, SBI VC Trade, an SBI Holdings subsidiary, will officially launch USDC on March 26 as part of this initiative. Major Japanese cryptocurrency exchanges, including Binance Japan, Bitbank, and BitFlyer, are also preparing to list USDC in the near future. That said, the approval represents a major step in Japan’s efforts to regulate and integrate stablecoins into its financial ecosystem. With increasing adoption of Web3 and blockchain technology, Japan has established clear regulatory guidelines, positioning itself as a leader in digital asset governance. Jeremy Allaire, CEO of Circle, emphasized Japan’s progressive approach, stating, “We are honored to bring USDC to businesses and consumers in this market. With the strong support of SBI Holdings and leading exchanges, USDC is set to be a secure and transparent digital dollar for Japan’s evolving digital economy.” Advertisement   Elsewhere, Yoshitaka Kitao, CEO of SBI Holdings, called the partnership a milestone, stating, “This initiative enhances digital asset accessibility and promotes financial innovation, aligning with our vision for the future of payments and blockchain-based finance in Japan.” Notably, Circle has been working for over two years to secure approval for its stablecoin operations in Japan. In July 2023, Allaire revealed that Circle was planning to introduce USDC in the country. At the time, he highlighted Japan’s evolving regulatory framework for stablecoins and expressed confidence that the nation could become a key market for cross-border crypto transactions. Under a legislation passed in June 2022, stablecoins in Japan must be backed…
Filed under: News - @ March 25, 2025 8:29 pm