SBI VC Trade, a cryptocurrency exchange associated with Japan's SBI Group, has received approval to support the USDC stablecoin.

This makes it the first company in Japan to obtain a stablecoin-related trading license. After completing the registration process with Japan's Kanto Regional Financial Bureau

SBI VC Trade, a cryptocurrency exchange linked to Japan’s SBI Group, has received approval to support the USDC stablecoin.

This makes it the first company in the country to gain a stablecoin-related trading license. After completing the registration procedures with Japan’s Kanto Regional Financial Bureau, the exchange will begin handling USDC transactions on March 12, 2025.

The exchange’s new registration covers the handling of electronic payment instruments. This establishes it as a key player in the country’s digital currency market. The approval comes after the exchange fulfilled the necessary regulatory criteria. This prepares SBI VC Trade to launch USDC support officially.

Announcing the development, CEO Tomohiko Kondo stated that the exchange is now Japan’s first and only company authorized to trade stablecoins. The platform’s parent company, SBI Holdings, had previously forged a strategic partnership with Circle, the issuer of USDC, in November 2023.

This collaboration was a preparatory step for the regulatory approval and eventual launch of USDC trading in Japan.

The exchange will commence handling USDC following a system update on March 12, 2025. Initially, SBI VC Trade intends to offer the stablecoin to a limited group of users in a beta phase.

Plans for full-scale operations will follow shortly after.

USDC is a stable digital asset that is fully backed by US dollar reserves. It provides high liquidity and security for users. The token’s backing is audited monthly by third parties. This ensures transparency and trust in the stablecoin’s value.

SBI VC Trade’s move comes as Japanese authorities are easing restrictions on stablecoins. This aligns with a broader trend of change in the country’s crypto market. By introducing USDC, SBI VC Trade aims to offer a more efficient and cost-effective method of digital payments. This goal fits into Japan’s broader push for innovation in the digital economy.

With the addition of the stablecoin license, SBI VC Trade now holds three key regulatory approvals. These include the cryptocurrency exchange business license and a Type 1 financial instruments business license. These licenses give the exchange a unique position in the market. They enable it to offer a range of cryptocurrency-related services in Japan.