SBI Teams With Circle to Expand USDC in Japan Via Joint Venture

SBI Holdings, Japan’s leading financial services group, has announced the formation of a joint venture with Circle Internet Financial, the issuer of the U.S. Dollar Coin (USDC), to advance the adoption of the stablecoin in Japan [3]. The new partnership aims to develop digital financial services using USDC, enhance its role in cross-border payments, and integrate it into Web3 ecosystems. SBI’s deep financial infrastructure in Japan, combined with Circle’s blockchain expertise, is expected to create a regulated and scalable platform for stablecoin use in the region.

The collaboration follows earlier agreements between the two firms. In November 2023, SBI and Circle signed a memorandum of understanding to explore the circulation of USDC in Japan. By March 2025, the two had formalized a joint venture, supported by SBI VC Trade, SBI’s crypto-asset exchange arm, which became the first firm in Japan to register as an Electronic Payment Instruments Service Provider. This regulatory milestone allowed it to begin offering USDC trading services, making the stablecoin more accessible to Japanese investors [3].

As part of its strategic investment in the venture, SBI has also become a financial backer of Circle, acquiring $50 million worth of Circle shares following its March 2025 listing on the New York Stock Exchange [2]. This move signals SBI’s long-term commitment to expanding its presence in the blockchain and stablecoin market. The investment not only strengthens SBI’s position but also aligns with its broader strategy of forming strategic alliances with global blockchain leaders.

In parallel, SBI is working with other blockchain firms to expand its digital financial ecosystem. It has partnered with Ripple to roll out Ripple USD (RLUSD) in Japan, with plans to launch the stablecoin by early 2026. Additionally, SBI has teamed up with Singapore’s Startale to build a tokenized trading platform for stocks and real-world assets, further indicating its ambition to become a key player in the global crypto and digital finance landscape [6].

Japan’s regulatory environment has been pivotal in enabling this expansion. The country’s structured approach requires licensed institutions to handle stablecoin issuance and distribution. SBI VC Trade, a licensed crypto exchange, is already supporting USDC and will expand to include Ripple USD (RLUSD) once regulatory approval is granted. This regulatory clarity positions Japan as an attractive market for global stablecoin providers looking to expand in Asia [10].

The partnership also aligns with Circle’s global strategy to increase USDC adoption in regulated markets. USDC is one of the most widely used stablecoins, backed by reserves and pegged 1:1 to the U.S. dollar. SBI’s deep understanding of Japan’s financial landscape and its regulatory compliance experience are expected to facilitate the integration of USDC into local financial systems and digital platforms [2].

This strategic alignment reflects the growing importance of stablecoins in the transition toward digital finance. SBI’s efforts to collaborate with international blockchain firms indicate a shift in Japan’s financial strategy, where traditional institutions are increasingly embracing digital assets as part of their service offerings. The joint venture is expected to provide new use cases for USDC, including cross-border payments, digital asset trading, and Web3 integrations [5].

SBI’s recent blockchain partnerships highlight its broader ambition to become a key bridge between traditional financial systems and emerging blockchain technologies. By forming alliances with firms like Circle and Ripple, SBI is positioning itself at the forefront of the digital finance revolution, leveraging blockchain to transform financial services in Japan and beyond [8].

Source:

[1] SBI Forms New Ties With Circle, Ripple And Startale – [https://cointelegraph.com/news/sbi-japan-blockchain-partnership-circle-ripple-startale](https://cointelegraph.com/news/sbi-japan-blockchain-partnership-circle-ripple-startale)

[2] SBI Invests $50M in Circle to Boost USDC in Japan – [https://phemex.com/news/article/sbi-invests-50m-in-circle-forms-joint-venture-to-boost-usdc-in-japan_15884](https://phemex.com/news/article/sbi-invests-50m-in-circle-forms-joint-venture-to-boost-usdc-in-japan_15884)

[3] SBI Holdings Forms Joint Venture With Circle to Advance ... – [https://www.cryptotimes.io/2025/08/23/sbi-holdings-forms-joint-venture-with-circle-to-advance-usdc-in-japan/](https://www.cryptotimes.io/2025/08/23/sbi-holdings-forms-joint-venture-with-circle-to-advance-usdc-in-japan/)

[4] Ripple and SBI Build Institutional Bridge Between Japan ... – [https://www.ainvest.com/news/ripple-sbi-build-institutional-bridge-japan-defi-rlusd-push-2508/](https://www.ainvest.com/news/ripple-sbi-build-institutional-bridge-japan-defi-rlusd-push-2508/)

[5] SBI enters deals with Circle, Startale, and Ripple as ... – [https://www.mitrade.com/insights/news/live-news/article-3-1062336-20250822](https://www.mitrade.com/insights/news/live-news/article-3-1062336-20250822)

[6] SBI Partners with Circle Ripple Startale to Expand ... – [https://www.ainvest.com/news/sbi-partners-circle-ripple-startale-expand-blockchain-financial-ecosystem-2508/](https://www.ainvest.com/news/sbi-partners-circle-ripple-startale-expand-blockchain-financial-ecosystem-2508/)

[7] Ripple's RLUSD, USDC To Launch In Japan Via SBI VC ... – [https://financefeeds.com/ripples-rlusd-usdc-to-launch-in-japan-via-sbi-vc-trade/](https://financefeeds.com/ripples-rlusd-usdc-to-launch-in-japan-via-sbi-vc-trade/)

[8] SBI Forms Crypto Partnerships with Circle, Startale, and ... – [https://intellectia.ai/news/crypto/sbi-enters-deals-with-circle-startale-and-ripple-as-japanese-bank-forms-crypto-ties](https://intellectia.ai/news/crypto/sbi-enters-deals-with-circle-startale-and-ripple-as-japanese-bank-forms-crypto-ties)

[9] Ripple to Launch RLUSD in Japan by Early 2026 – [https://www.fxleaders.com/news/2025/08/22/ripple-to-launch-rlusd-in-japan-by-early-2026/](https://www.fxleaders.com/news/2025/08/22/ripple-to-launch-rlusd-in-japan-by-early-2026/)

[10] Ripple News: RLUSD Stablecoin to Be Distributed in ... – [https://ground.news/article/ripple-teams-up-with-tradfi-giant-sbi-to-distribute-rlusd-stablecoin-in-japan](https://ground.news/article/ripple-teams-up-with-tradfi-giant-sbi-to-distribute-rlusd-stablecoin-in-japan)