A major milestone for Japan’s crypto market: SBI VC Trade, a subsidiary of financial powerhouse SBI Holdings, has received a license to operate with stablecoins and will become the first platform in Japan to support USDC.
Following its registration as an “Electronic Payment Instruments Exchange Service Provider,” SBI VC Trade plans to launch beta testing for USDC transactions on March 12, initially for a select group of users.
Jeremy Allaire, CEO of Circle, noted that USDC is now the first and only global dollar-backed stablecoin officially approved for use in Japan.
This move reflects a softening of Japan’s regulatory stance on stablecoins and opens the door to broader integration of digital assets within the country’s financial system.
