SBI Group prepares to launch USDC in Japan with Circle’s support

Circle is further expanding its presence in Japan through a new partnership with SBI VC Trade, a subsidiary of SBI Holdings.

Following regulatory approval earlier this month, SBI VC Trade is set to launch USDC trading in Japan on March 26, 2025.

The move marks the first stablecoin approved under Japan’s new regulatory framework for digital assets.

Circle has also established Circle Japan KK to support local operations for the stablecoin.

SBI VC Trade will be joined by other major Japanese exchanges, including Binance Japan, Bitbank, and BitFlyer, which also plan to list and distribute USDC (CRYPTO:USDC).

Circle CEO Jeremy Allaire highlighted the potential impact of the launch, stating that it would unlock significant opportunities for Japan’s digital asset market, including payments, cross-border finance, commerce, and foreign exchange.

The partnership builds on an earlier collaboration between Circle and SBI Holdings, initiated in 2023, to combine USDC distribution with banking and Web3 technology.

USDC, a fully reserved stablecoin, is backed 100% by cash and cash-equivalent assets, with its reserves held at regulated financial institutions and verified by third-party monthly attestations.

The introduction of USDC in Japan is expected to go beyond simple trading and listing.

Jay Jo, a senior research analyst at Tiger Research, noted that Japanese companies could offer custody services and develop various stablecoin-based businesses once USDC is launched.

Though Japan currently prohibits trust-based yen stablecoins, regulatory changes may shape the future of the country’s crypto sector.

Jo also pointed out that the continued depreciation of the yen could drive Japanese investors toward USDC as a hedge, potentially increasing selling pressure on the yen.

At the time of reporting, the USDC price was $0.9999.