Circle Internet Financial is set to launch its USDC stablecoin in Japan on 26 March, in collaboration with SBI Holdings.
The company, via its local subsidiary Circle Japan KK, will offer USDC to businesses and consumers.
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Earlier this month, cryptocurrency exchange SBI VC Trade, which is part of SBI Holdings, secured approval from the Japan Financial Services Agency to list USDC under Japan’s stablecoin regulatory framework.
This marks USDC as the first stablecoin to be officially sanctioned for use in the country, the company release said.
In 2023, Circle and SBI Holdings forged an alliance, with an aim to facilitate the circulation of USDC in Japan.
Going forward, other Japanese cryptocurrency exchanges, including Binance Japan, bitbank, and bitFlyer, plan to list USDC.
USDC is a digital dollar stablecoin, issued by Circle and backed by liquid cash and cash-equivalent assets and redeemable on a one-to-one basis for US dollars.
The reserves for USDC are held in regulated financial institutions and are subject to monthly attestations by third parties, which are made available to the public.
Circle co-founder and CEO Jeremy Allaire said: “Japan has long been at the forefront of the adoption of Web3 and blockchain technology, and Japan’s regulatory leadership has similarly been out in front on clear rules for the use of stablecoins in the Japan financial system. We are honoured to bring USDC to businesses and consumers in the market, and with Circle Japan KK and the strong support of SBI Holdings and leading exchanges, USDC is positioned as a secure and transparent digital dollar that meets the needs of Japan’s evolving digital economy.”
SBI Holdings representative director, chairman, president & CEO Yoshitaka Kitao stated:“SBI Holdings is proud to play a key role in expanding USDC adoption in Japan, a move that enhances digital asset accessibility and promotes financial innovation. We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our broader vision for the future of payments and blockchain-based finance in Japan.”
In December 2024, Circle Internet Group collaborated with Binance to support the adoption of USDC.

