USDC Set to Launch as Japan’s First USD-Pegged Stablecoin

Circle’s USDC Becomes First USD Stablecoin Approved for Use in Japan

SBI VC Trade, a subsidiary of SBI Holdings, has received regulatory approval to become Japan’s first exchange to list and distribute USDC under the country’s revised payments framework.

The approval, granted by Japan’s Financial Services Agency (JFSA), classifies SBI VC Trade as an Electronic Payments Provider, allowing it to handle foreign stablecoins. This move follows regulatory reforms in 2023 that opened the door for licensed entities to offer stablecoins under strict oversight.

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

This milestone marks a significant step for stablecoin adoption in Japan, signaling growing institutional and regulatory acceptance of digital assets in the region.