SBI VC Trade, a cryptocurrency exchange linked to Japan’s SBI Group, has secured approval from Japan’s Financial Services Agency (FSA) to offer trading services for the USDC stablecoin. This makes the exchange the first in Japan to be authorized to handle this cryptocurrency.
Initial Steps and Strategic Importance
On March 12, 2025, SBI VC Trade will begin processing USDC transactions. The exchange plans to first launch a limited beta phase before expanding operations to the broader market. This initiative follows the company’s registration with the Kanto Regional Financial Bureau after meeting the necessary regulatory standards. CEO Tomohiko Kondo's quote on social media confirms that SBI VC Trade is now the sole Japanese exchange authorized to trade stablecoins.
Regulatory Licenses and Service Expansion
SBI VC Trade holds not only a stablecoin trading license but also two other licenses: for cryptocurrency exchange business and a Type 1 financial instrument business license. These licenses provide the company with a solid legal framework to operate in Japan’s financial markets. Strong support from the FSA regarding stablecoins leads to eased regulations, fostering smoother integration of digital currencies in the country's financial transactions.
Ripple’s Influence on Japan’s Crypto Market
SBI Holdings, the parent company of SBI VC Trade, has long been a proponent of Ripple’s technology. The partnership between SBI and Ripple, especially in blockchain solutions for financial services, could increase interest and demand for digital currencies like USDC and RLUSD in the Japanese market. Ripple's strong ties with SBI raise the question of whether RLUSD, Ripple's stablecoin project, might enter the Japanese market.
The approval to handle USDC is an important step for SBI VC Trade, strengthening the company's position and potentially contributing to the wider adoption of digital currencies in Japan.
