Circle's USDC to be First USD Stablecoin in Japan

SBI VC Trade will be the first to list Circle’s stablecoin under the country’s new payments framework.

Mar 4, 2025, 5:21 p.m. UTC

SBI VC Trade, a subsidiary of financial giant SBI Holdings, has secured regulatory approval as an Electronic Payments Provider in Japan.

The regulatory approval, granted under the Japan Financial Services Agency’s (JFSA) new framework, allows the exchange to offer stablecoins, making it the first in the country to list and distribute USDC.

"USDC becomes the first and only global dollar

stablecoin to become approved for use in Japan," wrote Circle CEO Jeremy Allaire.

In Japan, regulatory changes in 2023 cleared the way for licensed intermediaries to handle foreign stablecoins, subject to oversight.

Francisco Rodrigues

Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.