Circle Expands into Japan, Leveraging Its Japanese Entity Circle Japan KK

Circle has announced it is leveraging its Japanese entity, Circle Japan KK, and local partnerships to drive the adoption of Circle platforms and technologies in Japan.

Circle has announced that it is leveraging its Japanese entity, Circle Japan KK, and local partnerships to drive the adoption of Circle platforms and technologies in Japan.

Aimed at further cementing its operation in Japan, Circle’s local partners will be able to use Circle’s platforms to facilitate the use of USDC in the country.

USDC is a fully-reserved digital dollar that is backed 1:1 by a mixture of cash and cash-equivalent assets, held in highly liquid short-term U.S. marketable securities. The USDC reserves are held at regulated financial institutions with published third-party monthly attestations, providing a high level of transparency for businesses and users.

Binance Japan, bitbank, and bitFlyer to List USDC Soon

These partnerships include a joint venture with Japanese financial conglomerate SBI Holdings, with SBI VC Trade having already launched USDC on March 26, and plans by leading exchanges Binance Japan, bitbank, and bitFlyer to list and distribute USDC in the near future.

SBI VC Trade, a cryptocurrency exchange in Japan and subsidiary of SBI Holdings, secured regulatory approval to introduce USDC on March 26 under the Japan Financial Services Agency’s stablecoin regulatory framework. This makes USDC the first and only global dollar stablecoin approved for use in Japan.

Circle’s launch in Japan will establish USDC’s market presence and liquidity in the country. By integrating USDC into Japan’s digital finance ecosystem, Circle and its partners aim to provide solutions for digital payments, settlements, and treasury operations.

“We are honored to bring USDC to businesses and consumers”

Jeremy Allaire, Co-founder and CEO of Circle said: “Japan has long been at the forefront of the adoption of Web3 and blockchain technology, and Japan’s regulatory leadership has similarly been out in front on clear rules for the use of stablecoins in the Japan financial system. 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.”

Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings, commented: “SBI Holdings is proud to play a key role in expanding USDC adoption in Japan, a move that enhances digital asset accessibility and promotes financial innovation. We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our broader vision for the future of payments and blockchain-based finance in Japan.”