Circle’s USDC Approved for Japan’s Regulated Market, Trading to Start March 26, 2025

Circle’s USDC has achieved a significant milestone by becoming the first stablecoin to receive official approval for use in Japan’s regulated financial market. This development marks a pivotal step toward the mainstream adoption of stablecoins in one of Asia’s largest economies. The approval comes as a result of a strategic partnership between Circle and SBI Holdings, a major Japanese financial conglomerate. SBI VC Trade, a cryptocurrency exchange under SBI Holdings, will launch USDC trading on March 26, 2025, following regulatory clearance from the Japan Financial Services Agency on March 4, 2025. Other prominent exchanges, including Binance Japan, Bitbank, and BitFlyer, are also set to follow suit, further expanding USDC’s reach in the region.

Circle’s expansion into Japan through its local entity, Circle Japan KK, signals growing institutional confidence in USDC’s reliability and utility. By integrating USDC into Japan’s digital finance ecosystem, Circle aims to provide secure solutions for payments, settlements, and treasury operations, potentially setting a precedent for stablecoin adoption globally. Jeremy Allaire, Co-founder and CEO of Circle, celebrated the achievement, stating that the company has spent over two years engaging with Japan’s regulators, major industry players, strategic partners, and banking partners to enable USDC for the Japanese market. This initiative is expected to unlock tremendous opportunities not just in trading digital assets but more broadly in payments, cross-border finance, commerce, foreign exchange, and more.

Yoshitaka Kitao, President and CEO of SBI Holdings, emphasized that Circle’s entry into Japan will enhance financial accessibility and drive innovation in the digital economy. “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,” Kitao said. This development comes as USDC continues to experience significant global growth. According to Circle’s 2025 report, the stablecoin’s monthly trading volume hit $1 trillion in November 2024. Moreover, its all-time trading volume surpassed $18 trillion. USDC’s circulation grew by 78% year-over-year. The report also shed light on USDC’s expanded accessibility to more than 500 million user wallets worldwide. Circle expects this growth to continue in 2025.

Beyond the US dollar’s preeminent role in trade, payments, and global finance, three factors are poised to accelerate the adoption and utility of USDC. First, legal and regulatory clarity; second, the scalability of new blockchain networks; and third, superior user experience. This approval in Japan is a testament to the growing acceptance and integration of stablecoins in the global financial landscape, paving the way for further innovation and adoption in the digital finance sector.