Circle announced the launch of its USDC stablecoin in Japan on March 26, following regulatory approval. This event expands stablecoin access in the Japanese market.
Launch and Approval
Circle officially launches the USDC stablecoin in Japan on March 26 after receiving regulatory approval from the Japan Financial Services Agency. The initial listing of USDC will be on the SBI VC Trade crypto exchange, a result of the collaboration between Japanese financial conglomerate SBI Holdings and Circle Japan KK. The approval was secured on March 4.
Circle's Plans and Partners
Circle is also planning to list USDC on exchanges such as Binance Japan, bitbank, and bitFlyer. The regulatory approval followed two years of negotiations with regulators, banking partners, and industry players.
Significance and Prospects
The approval and launch of USDC in Japan enhance financial accessibility and drive crypto innovation in Japan's evolving digital economy. This also aligns with the vision of future payments and blockchain-based finance in the region, as noted by SBI Holdings CEO and President Yoshitaka Kitao.
The launch of USDC in Japan highlights the growing significance of stablecoins in global markets and opens new prospects for integrating digital assets into the country's financial system.
