USDC Becomes Japan’s First Approved USD Stablecoin Under New Regulations

SBI VC Trade, a subsidiary of financial giant SBI Holdings, has become the first platform in Japan to receive approval to list and distribute Circle’s USDC stablecoin under the country’s updated regulatory framework.

Japan’s Financial Services Agency (JFSA) granted SBI VC Trade the designation of an Electronic Payments Provider, allowing it to handle foreign stablecoins. This approval follows legislative changes in 2023 that enabled licensed entities to offer stablecoins while ensuring strict regulatory oversight.

“USDC is now the first and only global dollar stablecoin approved for use in Japan,” Circle CEO Jeremy Allaire announced.

This development marks a major milestone for stablecoin adoption in Japan, positioning USDC as a key player in the country’s evolving digital asset landscape.