SBI VC Trade is preparing to launch support for the USDC stablecoin in Japan following initial registration completion, pending regulatory approval.
Launch of USDC Support
On March 4, SBI VC Trade announced the completion of its initial registration for stablecoin transactions, paving the way for USDC usage in Japan. After full registration, the platform expects to be one of the country's first to offer transactions with this popular stablecoin. Plans involve testing the service from March 12, moving incrementally to full deployment after successful trials.
Circle CEO's View on USDC
The initiative has the support of Circle's founder and CEO, Jeremy Allaire, who described USDC as the 'sole global dollar stablecoin' regulated in Japan. He expressed hope for a successful launch and emphasized the importance of this step for Circle's expansion in the country.
Support from Japanese Regulators
SBI's move into the stablecoin arena comes with backing from Japan's Financial Services Agency Commissioner, who supports stablecoin transactions. SBI VC Trade and its parent company continue to strengthen their position in digital assets, collaborating with players like Ripple to implement blockchain technology and cross-border payment solutions.
The outlook for digital assets in Japan is improving, with SBI VC Trade's actions demonstrating the growing interest and regulatory support for stablecoin use, fostering innovation in financial services.
