USDC Becomes First USD Stablecoin Approved in Japan Under New Regulations
SBI VC Trade, a subsidiary of SBI Holdings, has officially become the first exchange in Japan to offer Circle’s USDC stablecoin under the country’s updated payments framework.
The approval, granted by Japan’s Financial Services Agency (JFSA), designates SBI VC Trade as an Electronic Payments Provider, allowing it to list and distribute USDC. This marks a major milestone for stablecoin adoption in Japan, where regulatory changes in 2023 paved the way for licensed entities to handle foreign stablecoins under strict oversight.
“USDC becomes the first and only global dollar stablecoin to be approved for use in Japan,” Circle CEO Jeremy Allaire stated.
With this regulatory breakthrough, Japan is taking a step forward in integrating stablecoins into its financial ecosystem while maintaining compliance with its robust regulatory standards.
