USDC Becomes First USD Stablecoin Approved for Circulation in Japan
SBI VC Trade, a subsidiary of SBI Holdings, has received regulatory approval to become Japan’s first exchange to list and distribute Circle’s USDC stablecoin under the country’s updated payments framework.
The approval from Japan’s Financial Services Agency (JFSA) grants SBI VC Trade the status of an Electronic Payments Provider, enabling it to offer foreign stablecoins. This follows legislative changes in 2023 that established a legal pathway for regulated entities to handle stablecoins under strict oversight.
“USDC is now the first and only global dollar stablecoin approved for use in Japan,” Circle CEO Jeremy Allaire confirmed.
This milestone marks a significant step toward broader stablecoin adoption in Japan, reflecting growing regulatory confidence in digital assets.
