Circle’s USDC ($1.00) has become the first dollar-backed cryptocurrency to receive regulatory approval in Japan. The company, in partnership with SBI Holdings, is set to commence operations in the country. USDC is expected to start trading on exchanges in March.

USDC Receives Official Approval in Japan

Global financial technology firm Circle has obtained the necessary regulatory approval to launch its dollar-backed stablecoin USDC in Japan. The Financial Services Agency (FSA) has accepted USDC under the new cryptocurrency regulations in the country. With this approval, USDC is officially recognized as the first dollar-supported cryptocurrency able to trade in Japan.

Circle’s operations in Japan will be conducted through its local entity, Circle Japan KK. To ensure compliance with regulatory frameworks, Circle has established a strategic partnership with SBI Holdings, one of Japan’s leading financial firms. This partnership is crucial for achieving technical compatibility and integrating into the local market.

Exchange Operations and Market Integration

Preparations for USDC to trade on exchanges in Japan are nearing completion. SBI VC Trade, under SBI Holdings, plans to list USDC in March, aiming to provide easy access for both corporate and indiv...