USDC to Debut in Japan on March 26 as Circle Partners With SBI.

Circle and SBI to Roll Out USDC in Japan on March 26 After Regulatory Approval

Circle is set to launch its USDC stablecoin in Japan on March 26, partnering with SBI Holdings in a move that strengthens the country’s digital asset ecosystem. The launch follows regulatory approval from the Japan Financial Services Agency (JFSA) earlier this month.

“Japan has been a global leader in Web3 and blockchain innovation, with a well-defined regulatory framework for stablecoins,” said Jeremy Allaire, co-founder and CEO of Circle, in an official statement.

Allaire also noted on X that Circle spent two years working with Japanese regulators to ensure compliance before launching USDC in the country.

SBI Holdings’ chairman and CEO, Yoshitaka Kitao, highlighted the partnership’s potential to enhance financial accessibility and accelerate digital asset innovation. “This initiative aligns with our vision for the future of blockchain-based finance in Japan,” he stated.

As of now, USDC has a market capitalization of approximately $59.7 billion, according to CoinGecko data. The stablecoin has been gaining wider adoption, with GCash, the largest digital wallet in the Philippines, recently adding support for USDC.

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