SBI VC Trade has become the first platform in Japan to be approved to support USDC, as foreign stablecoin regulations ease. Meanwhile, analyst ZachXBT highlights the role of stablecoins as an indicator of blockchain legitimacy.
SBI VC Trade Supports USDC in Japan
SBI VC Trade, a subsidiary of financial conglomerate SBI Holdings, has been registered to support the stablecoin USDC. This move, set against the backdrop of easing regulations on foreign stablecoins in Japan, marks a significant step in expanding digital asset offerings. According to SBI VC Trade CEO Tomohiko Kondo, the company has become the first in Japan to receive a stablecoin license, and plans to gradually introduce USDC on its platform.
Stablecoin Role in Blockchain Legitimacy
Analyst ZachXBT has initiated a debate within the crypto community by asserting that the presence of stablecoins from major issuers, such as Circle and Paxos, is a key indicator of a blockchain's legitimacy. In response, Cardano Foundation CEO Frederik Gregaard emphasized that blockchain legitimacy is determined by various factors, including security, decentralization, and community activity. Cardano and XRP Ledger are also advancing their own stablecoin solutions, like DJED and RLUSD.
Analysis of Chris Larsen’s XRP Holdings
ZachXBT also revealed details of Ripple co-founder Chris Larsen holding approximately 2.7 billion XRP, sparking speculation about possible market impacts. Previously, Larsen faced asset leaks, including a 2024 incident where 213 million XRP were stolen. This underscores the ongoing debate over the significance of stablecoins and blockchain legitimacy.
The evolution of stablecoin support in Japan and debates over blockchain legitimacy highlight the rapidly changing cryptocurrency landscape. The stablecoin sector continues to shape future directions, offering new opportunities for digital asset integration and adoption.
