As local regulators relax stablecoin regulations, Japan's financial group SBI's cryptocurrency subsidiary plans to support Circle's USDC stablecoin.
On March 4, SBI VC Trade announced the completion of its first stablecoin trading registration, marking the official start of USDC (USDC) trading.
The announcement stated that after obtaining full registration, SBI VC Trade is expected to become one of the first financial platforms in Japan to offer USDC cryptocurrency trading.
The platform plans to launch a trial of USDC trading for selected users on March 12 and expects to fully roll out USDC trading in the near future.
Source: SBI VC Trade
SBI VC Trade CEO Tomohiko Kondo confirmed this news on March 4 on X, stating that the platform has received notification from the Kanto Local Finance Bureau's Tokyo office, confirming its registration as an electronic payment tool trading business operator.
He wrote, "SBI VC Trade has become the first and only company in Japan to obtain a stablecoin license," adding that the company will continue to work hard to provide full support for USDC.
SBI VC Trade CEO Tomohiko Kondo confirmed the support for USDC on the X platform (translated via Google). Source: Tomohiko Kondo
SBI VC Trade's announcement marks a significant advancement in Japan's stablecoin regulation, following reports that Japan lifted its ban on foreign stablecoins in 2023.
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According to reports, in February, Japan's Financial Services Agency (FSA) approved a working group's report recommending the relaxation of regulatory policies related to stablecoins.
On the same day that SBI's latest stablecoin initiative was announced, Financial Services Agency Commissioner Hidetaka Ito publicly expressed support for stablecoin trading in Japan.
On March 4, Ito emphasized the role of stablecoins in financial innovation at the Fin/Sum 2025 event during Japan Fintech Week.
Financial Services Agency Commissioner Hidetaka Ito attended Japan Fintech Week. Source: Fin/Sum2025
According to local news agency Nikkei, Ito stated in his speech, "Stablecoins play an important role in the complex process of remittances and settlements, and I hope this progress can be smoothly realized."
In addition to Circle, SBI VC Trade and its parent company SBI have close collaborations with other major U.S. companies such as Ripple.
Cryptocurrencies supported by SBI VC Trade. Source: SBI VC Trade
As of the time of writing, SBI VC Trade offers trading services for various cryptocurrencies on its website, including Bitcoin (BTC), Ethereum (ETH), XRP (XRP), and more.
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