Circle is set to officially launch its USDC stablecoin in Japan on March 26, marking an important step for stablecoins in one of Asia’s most tightly regulated crypto markets.
A Two-Year Journey to Regulatory Greenlight
Jeremy Allaire, CEO of Circle, described the approval process as the culmination of a two-year dialogue with Japanese regulators and banking partners. In a post on X, Allaire emphasized that this regulatory breakthrough opens up new possibilities—not only for crypto trading, but for broader applications such as payments, foreign exchange, and cross-border finance.
Growing Footprint in Japan’s Digital Economy
The rollout of USDC is aligned with Japan’s broader push toward digital transformation and innovation in the financial sector. Yoshitaka Kitao, CEO of SBI Holdings, said the move would enhance financial access and accelerate blockchain-based innovation across the country’s evolving economy.
USDC Gains Global Traction
The announcement comes just weeks after USDC and Circle’s euro-backed EURC received formal recognition under the Dubai Financial Services Authority’s regulatory framework, making them the first stablecoins approved for use within the Dubai International Financial Centre. Globally, USDC continues to hold its place as the second-largest stablecoin by market capitalization, trailing behind Tether’s USDT.
With Japan’s evolving regulatory landscape now welcoming compliant digital currencies, Circle’s expansion into the country could pave the way for wider adoption of regulatory-compliant digital dollars across Asia.
