Circle is expanding the reach of its USDC stablecoin to Japan through a strategic partnership with SBI Holdings, marking a significant milestone for stablecoin adoption in the country.
According to a press release issued on March 25, SBI VC Trade, a cryptocurrency exchange operated by SBI Holdings, will officially launch full-scale trading of USD Coin on March 26. This milestone positions USDC as one of the first globally recognized dollar-pegged stablecoins to gain approval under Japan’s updated regulatory framework.
This achievement is the result of two years of collaboration between Circle, banking partners, and regulators. CEO Jeremy Allaire emphasized that Japan’s clear and transparent stablecoin regulations present major opportunities for cross-border transactions, digital payments, and financial innovation.
Expressing his optimism about USDC’s role in Japan, Allaire stated:
“We are honored to bring USDC to businesses and consumers in the market, and with Circle Japan KK and the strong support of SBI Holdings and leading exchanges, USDC is positioned as a secure and transparent digital dollar that meets the needs of Japan’s evolving digital economy.”
SBI Holdings also views this as a crucial step in improving the accessibility and usability of digital assets for both businesses and consumers. Beyond SBI VC Trade, USDC’s presence in Japan will soon expand further, as Binance Japan, bitbank, and bitFlyer prepare to list the stablecoin, broadening its reach within the country’s crypto ecosystem.
Circle’s efforts to drive USDC adoption extend beyond Japan. On March 20, Allaire announced on X that GCash, the largest digital wallet in the Philippines with around 100 million users, has integrated USDC support. Stablecoins are becoming increasingly vital in GCash’s remittance market, which handles over $65 billion in transactions annually, further demonstrating the growing role of digital dollars in global finance.
The largest and most widely used digital money app in the Philippines , GCash, just announced support for USDC in their mobile wallet. Another ~100m users being brought into Circle’s stablecoin network. https://t.co/ruscNYYjJI
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) March 21, 2025
At the same time, Circle is advocating for stricter regulatory oversight in the United States. In an interview, Allaire urged that all issuers of dollar-pegged digital assets be registered within the U.S. He expressed concerns about stablecoin issuers operating offshore while continuing to serve American customers, arguing that such companies should not be allowed to bypass U.S. regulations.
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