Circle Internet Group Inc. advanced its international expansion on March 25 by announcing a strategic launch in Japan, leveraging its local subsidiary, Circle Japan KK, and cementing a partnership with financial conglomerate SBI Holdings. In a statement on social media platform X, Circle CEO Jeremy Allaire shared further details about the milestone:

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.

“We have spent 2+ years engaging with Japan’s regulators, major industry players, strategic partners, banking partners and others to enable USDC for the Japanese market, which unlocks tremendous opportunities not just in trading digital assets, but more broadly in payments, cross border finance and commerce, FX and more. Major launch events happening all day today in Tokyo!” the Circle executive added.

The fintech company confirmed that SBI VC Trade, a subsidiary of SBI Holdings, will launch USDC trading in Japan on March 26, following regulatory approval. Additional Japanese exchanges, including Binance Japan, Bitbank, and Bitflyer, have also committed to listing the stablecoin. This move positions Circle’s USDC as the first global dollar stablecoin to gain full regulatory clearance under Japan’s updated stablecoin framework.

SBI VC Trade received formal approval from the Japan Financial Services Agency on March 4. The announcement follows a 2023 partnership between Circle and SBI Holdings focused on broadening USDC distribution, integrating digital banking services, and accelerating Web3 adoption. With a dedicated local team, Circle seeks to enhance market infrastructure and provide tools for businesses to handle digital payments, treasury operations, and international financial flows.

Allaire credited Japan’s leadership in digital finance policy. “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,” he opined. USDC remains fully backed by liquid cash and cash-equivalent reserves, and is redeemable 1:1 for U.S. dollars, with attested transparency through monthly third-party reports.

Yoshitaka Kitao, Chairman and CEO of SBI Holdings, also expressed enthusiasm: “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.” He emphasized:

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.

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