Circle, the issuer of the USDC stablecoin, has confirmed that Japan’s SBI VC Trade cryptocurrency exchange will launch USDC in Japan this week. The stablecoin issuer announced a collaboration with SBI Holdings in late 2023. Since then it has set up a local subsidiary, Circle Japan KK, and created a joint venture with SBI Holdings. It also has plans to list and distribute USDC via Binance Japan, bitbank and bitFlyer.
Earlier this month SBI VC Trade received Japan’s first license as an “Electronic Payment Instruments Exchange Service Provider”. This registration is necessary for a Japanese company to support foreign stablecoins.
“We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our broader vision for the future of payments and blockchain-based finance in Japan,” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings.
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