Circle will soon be able to offer USDC to investors in Japan

Jeremy Allaire, CEO at Circle, announced on 4 March 2025, that USDC is now “the first and only global dollar stablecoin to become approved for use in Japan.”

Circle will soon be able to offer USDC to investors in Japan, the company announced on Sunday.

The company will partner with SBI, the sole exchange permitted to offer USDC to Japanese investors. SBI reportedly plans to open USDC trading to limited users on 12 March.

"USDC becomes the first and only global dollar stablecoin to become approved for use in Japan!" announced Jeremy Allaire, CEO at Circle.

"Congrats to SBI for being the first to be permitted to list and distribute USDC. And much more to come from Circle in Japan soon."

The country began recognizing tokens as digital currencies and requiring stablecoins to be pegged to the yen and redeemable at face value with the 2023 bill.

Institutions such as licensed banks, money transfer agents, and trust companies may issue approved stablecoins as part of regulations to be introduced in the coming months.

Japan’s approval of USDC comes just weeks after Coinbase CEO Brian Armstrong stated that he considers catching up to Tether’s USDT as their stretch goal.

"We're not focused on overtaking any other company, but we do have a stretch goal to become the no. 1 token in terms of market cap (e.g., catch and surpass Tether's USDT in the coming years). We'll need to make a no-hype token that people want to use in order to get there."

Notably, Coinbase and Circle co-founded the Centre Consortium in 2018 to manage USDC issuance. Coinbase acquired a minority stake in Circle, which dissolved the Centre Consortium.

Recognition Of USDC, EURC Stablecoins To Moonshot Dubai's Crypto Growth

Japan’s approval comes just weeks after the company announced that the Dubai Financial Services Authority (DFSA) officially recognized their USDC and EURC as official tokens, making them the first stablecoins approved by the regulatory authority.

With the two stablecoins approved, both USDC and EURC can now be incorporated by 6000 plus companies at the Dubai International Financial Centre (DIFC) into a range of applications, including payments, treasury management and services.

During the announcement made on 24 February, Dante Disparte, the Chief Strategy Officer and Head of Global Policy and Operations at Circle said, "The DFSA’s approval of USDC and EURC as recognised crypto tokens within the DIFC is yet another validation of our constructive approach to regulatory and policy engagement."

"This recognition underscores our commitment to advancing the digital economy in partnership with regulators around the world. As the leading issuer of stablecoins, we are uniquely positioned to support the integration of crypto into mainstream finance."

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