Source: Cointelegraph Original: "{title}"

Circle announced that it will officially launch its US dollar stablecoin in Japan on March 26, following regulatory approval obtained by its local partner three weeks ago.

In a statement on March 24, Circle stated that USDC will first be listed on the cryptocurrency exchange "SBI VC Trade," a joint venture established by its parent company, Japan's financial group SBI Holdings, and Circle's Japanese entity Circle Japan KK.

This announcement comes three weeks after SBI VC Trade received the industry's first regulatory approval on March 4, allowing it to launch USDC under the stablecoin regulatory framework set by Japan's Financial Services Agency.

Circle also plans to launch USDC on Binance Japan, bitbank, and bitFlyer in the near future.

Bitbank and bitFlyer are the two largest cryptocurrency exchanges in Japan, each processing over $25 million in transactions in the past day, with website visits exceeding 1.85 million last month.

Jeremy Allaire from Circle stated in a post on the X platform on March 24 that this regulatory approval was obtained after two years of repeated negotiations with regulators, banking partners, and industry participants.

"This not only unlocks significant opportunities for trading digital assets but also for payments, cross-border finance, commerce, and foreign exchange," he added.

Source: Jeremy Allaire

SBI Holdings CEO and President Yoshitaka Kitao stated that the launch of USDC will enhance financial accessibility and drive crypto innovation in Japan's evolving digital economy.

"This aligns with our broader vision for the future of payments and blockchain-based finance in Japan."

Meanwhile, USDC and Circle's euro-backed stablecoin EURC were recognized on February 24 as among the first stablecoins under the new regime of the Dubai Financial Services Authority.

This recognition allows companies operating in the Dubai International Financial Centre (a free economic zone) to integrate these two stablecoins into a range of digital asset applications, including payments, fund management, and services.

According to data from CoinGecko, USDC maintains its position as the second-largest stablecoin by market capitalization at $59.7 billion, trailing only Tether's USDT at $143.8 billion.

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