Circle and SBI to Introduce USDC in Japan on March 26 After Securing Regulatory Approval

Circle, in collaboration with SBI Holdings, will officially launch USDC in Japan on March 26, following recent approval from the Japan Financial Services Agency (JFSA). This marks a key milestone in integrating stablecoins into Japan’s regulated financial system.

Jeremy Allaire, Circle’s co-founder and CEO, praised Japan’s progressive approach to blockchain and digital assets. “Japan has been at the forefront of Web3 adoption and has established a clear regulatory framework for stablecoins,” he stated in a press release.

Allaire also revealed on X that Circle has been working closely with Japanese regulators for the past two years to ensure full compliance with local laws before launching USDC.

SBI Holdings’ chairman and CEO, Yoshitaka Kitao, expressed optimism about the launch, stating, “We believe this initiative will improve financial accessibility and drive innovation in digital asset payments, aligning with our long-term vision for blockchain-based finance in Japan.”

Currently, USDC holds a market capitalization of approximately $59.7 billion, according to CoinGecko data. Its adoption is expanding globally, with GCash, the largest digital wallet in the Philippines, recently integrating USDC support.

A 2024 report from Circle revealed that Asia-Pacific leads the world in digital currency transactions, accounting for 29% of global volume, surpassing Western Europe (22%) and North America (19%).