In a significant move for Japan’s digital finance landscape, SBI Holdings and Circle have announced the introduction of USD Coin (USDC) trading in the country. This strategic initiative follows the recent addition of USDC support by the Philippines’ leading digital wallet, GCash, signaling a broader push for stablecoin adoption across Asia.
Regulatory Green Light for USDC in Japan
SBI VC Trade, a cryptocurrency exchange under SBI Holdings, is set to launch USDC trading on March 26, 2025, after securing regulatory approval from the Japan Financial Services Agency (JFSA) on March 4. The initiative underscores Japan’s progressive stance on blockchain technology and stablecoin regulation.
Following SBI’s lead, major exchanges such as Binance Japan, Bitbank, and BitFlyer are also expected to roll out USDC trading, significantly expanding the stablecoin’s presence in the region. Circle’s local subsidiary, Circle Japan KK, is spearheading the expansion, highlighting growing institutional confidence in USDC’s reliability for payments, settlements, and cross-border transactions.
Circle CEO Highlights Japan’s Role in Global Stablecoin Adoption
Circle Co-founder and CEO Jeremy Allaire emphasized the significance of Japan’s regulatory framework in facilitating USDC’s integration.
“We have spent over two years engaging with Japan’s regulators, industry leaders, and banking partners to enable USDC for the Japanese market,” Allaire shared on X (formerly Twitter). “This unlocks tremendous opportunities in digital asset trading, cross-border finance, and global commerce.”
BREAKING NEWS: Circle becomes the first and only stablecoin to be approved for use in Japanese markets, with Circle launching new operations, a strategic JV with SBI Holdings, and imminent launch of USDC by SBI VC Trade, with other major exchanges to follow.
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) March 24, 2025
We have spent 2+…
Yoshitaka Kitao, President and CEO of SBI Holdings, echoed this sentiment, stating, “We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our vision for the future of payments and blockchain finance in Japan.”
USDC’s Global Expansion and Future Growth
USDC continues to see remarkable global adoption. According to Circle’s 2025 report, the stablecoin’s monthly trading volume surpassed $1 trillion in November 2024, with an all-time volume exceeding $18 trillion. Its circulation has grown by 78% year-over-year, with accessibility extending to over 500 million wallets worldwide.
Also Read: Circle CEO Calls for Mandatory US Registration of Stablecoin Issuers Amid Rising Regulatory Scrutiny
Circle attributes this expansion to three key factors: regulatory clarity, the scalability of blockchain networks, and improved user experience. With Japan now embracing USDC, the stablecoin is poised for further integration into mainstream finance, reinforcing its role in the evolving digital economy.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
I’m a crypto enthusiast with a background in finance. I’m fascinated by the potential of crypto to disrupt traditional financial systems. I’m always on the lookout for new and innovative projects in the space. I believe that crypto has the potential to create a more equitable and inclusive financial system.
