Japanese cryptocurrency exchange SBI VC Trade is set to introduce support for Circle’s USDC stablecoin, marking a significant milestone in Japan’s evolving regulatory landscape for digital assets.
On March 4, The company announced the successful completion of its initial registration for stablecoin transactions, allowing it to process USDC trades. This development positions SBI VC Trade as a frontrunner in Japan’s stablecoin market, with plans to conduct a trial launch for selected users on March 12 before expanding to full-scale operations.
SBI VC Trade CEO Tomohiko Kondo confirmed the news on social media platform X, revealing that the company received official registration as an electronic payment instrument trading business operator from the Kanto Regional Financial Bureau’s Tokyo office. Kondo emphasized that SBI VC Trade is currently the only Japanese company that has obtained this stablecoin license and reaffirmed the company’s commitment to integrating full support for USDC.
Japan has been gradually relaxing its regulations on foreign stablecoins following the reported removal of a ban in 2023. In February, the Financial Services Agency (FSA) approved a working group’s recommendations to ease restrictions on stablecoin transactions, signalling broader acceptance of these digital assets.
Coinciding with SBI VC Trade’s announcement, FSA Commissioner Hideki Ito expressed his endorsement of stablecoin transactions during the Fin/Sum 2025 event, held as part of Japanese Fintech Week. He acknowledged the role of stablecoins in advancing financial innovation, particularly in remittances and settlements. This move aligns with SBI VC Trade’s efforts to enhance partnerships within the global cryptocurrency ecosystem, maintaining close collaborations with major U.S. blockchain firms like Ripple and Circle.
Meanwhile, Japan’s FSA considers cryptocurrencies to be financial products like securities. The agency is consulting with experts to reassess the regulatory framework and plans to outline its policy direction by June. Input from the Financial System Council is anticipated during the fall meeting, with a potential legal amendment expected in 2026, though the timeline is uncertain.
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