Japanese financial firm SBI VC Trade has announced the launch of support for the USDC stablecoin amid changes in local regulatory frameworks.
USDC Support by SBI VC Trade
On March 4, SBI VC Trade announced the completion of the first registration related to stablecoin transactions, enabling the firm to start processing USDC transactions. With full registration, the platform aims to be one of the first in Japan to offer cryptocurrency trading in USDC.
Easing Rules for Foreign Stablecoins
SBI VC Trade CEO Tomohiko Kondo confirmed receipt of a notification from the Tokyo regional financial office regarding the registration of an electronic payment instrument trading business operator.
The Future of Stablecoins in Japan
SBI VC Trade's announcement marks a key development in Japan's stablecoin regulations. In 2023, Japan lifted the ban on foreign stablecoins, paving the way for new opportunities in the country's fintech landscape.
These developments reinforce Japan's position in the cryptocurrency market, opening new avenues for stablecoin utilization in the fintech industry.
