USDC Becomes Japan’s First Approved Stablecoin

Key Takeaways

• USDC becomes the first stablecoin approved for use in Japan, marking a major milestone for Circle.
• Circle forms a strategic joint venture with SBI Holdings to expand stablecoin adoption.
• Leading Japanese exchanges, including SBI VC Trade, Binance Japan, and bitFlyer, set to list USDC.

Circle has now entered the Japanese market officially with the landmark achievement of becoming the first company to have its global stablecoin endorsed for operation under Japan’s financial regulations.

After more than two years of engagement with regulators and market participants, Circle was approved for USDC, positioning it as one of the top participants in Japan’s growing digital finance market. This will create new possibilities in payments, cross-border, and foreign exchange markets.

The approval paves the way for deeper integration of stablecoins into Japan’s financial system. With the regulators’ seal of approval, Circle aims to supply institutions and companies with a secure digital dollar, gaining the confidence of investors and traders.

The expansion into Japan is one of the company’s broader strategies to expand its footprint in the Asian market, making the USDC usable and liquid in a highly regulated market.

Strategic Partnerships Fuel USDC Adoption

Circle has its success in Japan underpinned by its strategic partnership with Japan finance leader SBI Holdings. SBI Holdings’ subsidiary, SBI VC Trade, played the central role in achieving regulatory approval for the USDC and is getting ready for a full launch on March 26.

That will then be followed by listings on the major Japanese exchanges, including Binance Japan, bitbank, and bitFlyer, to further increase the availability of USDC.

With the addition of USDC to its ecosystem, the availability of digital assets will increase, and the transactions will become smoother. Beyond trading, the tie-up will utilize the stablecoins for payment, settlement, and treasury management uses.

Circle’s Japan affiliate, Circle Japan KK, will take the leadership in adoption, working with financial firms and companies in partnership to advance stablecoin applications.

Enhancing Market Infrastructure and Digital Finance

Circle intends to develop Japan’s digital finance infrastructure with the launch of USDC in Japan, providing companies with access to a stable, transparent digital dollar.

USDC is fully backed, ensuring stability, and hence is in high demand by both retail and institutional consumers. Regulatory approval in Japan is the milestone event for the entry of stablecoins into its financial ecosystem.

Circle introduces the USDC to the market in Japan, closing the distance between blockchain products and traditional finance. The innovation has the potential to pave the way for the acceptance of other stablecoins globally, with the ultimate result being more adoption and regulatory certainty in global markets.

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