Circle Secures Historic Approval for USDC in Japan with SBI Holdings Partnership

On March 24, 2025, Circle made a big announcement that positions it as a key player in Japan’s evolving digital finance landscape. The global financial technology company, known for its stablecoin USDC, has become the first and only stablecoin provider to gain approval for operations in Japanese markets.

This milestone follows more than two years of dedicated engagement with Japan’s regulators, industry leaders, banking partners, and strategic collaborators. Circle’s efforts have culminated in the launch of new operations in Japan, including a strategic joint venture with SBI Holdings, a prominent Japanese financial conglomerate. The partnership is set to introduce USDC to the Japanese market through SBI VC Trade, with other major exchanges expected to follow suit in the near future.

In the announcement made today, Circle CEO Jeremy Allaire highlighted the extensive groundwork laid over the past two years to ensure compliance with Japan’s regulatory framework, emphasizing the potential for USDC to transform not only digital asset trading but also broader financial applications. These include payments, cross-border finance, commerce, and foreign exchange, areas where Japan’s market presents significant opportunities. To celebrate the launch, Circle hosted major events throughout the day in Tokyo, marking a new chapter for stablecoins in the region.

A Strategic Move for Japan’s Digital Economy

Japan has long been a leader in adopting blockchain and Web3 technologies, and its regulatory environment has evolved to support stablecoin innovation. In 2023, Japan introduced clear regulations for digital currencies, reversing a previous ban on foreign-issued stablecoins prompted by the 2022 Terra collapse.

Circle’s approval reflects Japan’s growing confidence in stablecoins as a reliable financial tool. Through its local entity, Circle Japan KK, and the partnership with SBI Holdings, Circle aims to enhance market infrastructure and provide secure digital dollar solutions for businesses and consumers. SBI VC Trade, a subsidiary of SBI Holdings, secured a license as an electronic payment instruments service, enabling it to facilitate USDC transactions. This move aligns with Japan’s broader vision of fostering financial accessibility and innovation in digital assets.

The launch of USDC in Japan is expected to have far-reaching implications. By integrating USDC into Japan’s digital finance ecosystem, Circle and its partners are poised to offer efficient solutions for payments, settlements, and treasury operations.

With SBI VC Trade initiating a full-scale rollout on March 26, 2025, and leading exchanges like Binance Japan, BitBank, and BitFlyer, planning to list USDC, the stablecoin is set to gain significant traction. This development not only strengthens Circle’s global presence but also underscores Japan’s role as a hub for digital finance innovation.