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Japan Opens Doors to Foreign Stablecoins: USDC to Begin Trading on March 12
Japan is taking a significant step forward in stablecoin adoption, with SBI VC Trade securing regulatory approval to list Circle's USDC. This marks the first time a foreign dollar-pegged stablecoin will be legally distributed in the country. Under Japan's new payments framework, the exchange will roll out USDC trading, signaling a shift in the nation's approach to digital assets.SBI VC Trade Gains Regulatory Green LightSBI VC Trade, a subsidiary of financial conglomerate SBI Holdings, has become the first exchange in Japan to register as an Electronic Payments Provider. This status, granted under the Financial Services Agency's (FSA) revised regulations, allows the company to handle stablecoin transactions. The approval sets the stage for USDC's listing, making it the only global dollar stablecoin authorized for use in Japan.Circle CEO Jeremy Allaire confirmed the news, stating, "USDC becomes the first and only global dollar stablecoin to become approved for use in Japan." He congratulated SBI VC Trade for being the first exchange permitted to list and distribute the stablecoin, hinting at further expansion in the country.
Japan is taking a significant step forward in stablecoin adoption, with SBI VC Trade securing regulatory approval to list Circle's USDC. This marks the first time a foreign dollar-pegged stablecoin will be legally distributed in the country. Under Japan's new payments framework, the exchange will roll out USDC trading, signaling a shift in the nation's approach to digital assets.
SBI VC Trade Gains Regulatory Green Light
SBI VC Trade, a subsidiary of financial conglomerate SBI Holdings, has become the first exchange in Japan to register as an Electronic Payments Provider.
This status, granted under the Financial Services Agency's (FSA) revised regulations, allows the company to handle stablecoin transactions. The approval sets the stage for USDC's listing, making it the only global dollar stablecoin authorized for use in Japan.
Circle CEO Jeremy Allaire confirmed the news, stating, "USDC becomes the first and only global dollar stablecoin to become approved for use in Japan." He congratulated SBI VC Trade for being the first exchange permitted to list and distribute the stablecoin, hinting at further expansion in the country.
