SBI's crypto arm to offer USDC trading in Japan as regulations on stablecoins ease

From Cointelegraph

March 4, 2025 03:11:05 AM:

SBI VC Trade, a cryptocurrency subsidiary of a Japanese financial conglomerate, is set to offer support for Circle’s USDC stablecoin as local regulators ease stablecoin rules. The platform aims to become one of the first in Japan to offer USDC trading, with a trial starting on March 12 and a full rollout soon after.

Following a notification from the Kanto Regional Financial Bureau, SBI VC Trade is now the first company in Japan to obtain a stablecoin license. This development comes after Japan reportedly lifted the ban on foreign stablecoins in 2023, with the Financial Services Agency easing regulations on stablecoin-related policies.

Financial Services Agency Commissioner Hideki Ito expressed support for stablecoin transactions in Japan during the Fin/Sum 2025 event, emphasizing their role in financial innovation. Ito highlighted the use of stablecoins for remittance and settlement, signaling a positive stance on their adoption in the country.

SBI VC Trade currently supports a variety of cryptocurrencies, including Bitcoin, Ether, and XRP on its platform. The move to offer support for USDC showcases the company’s commitment to expanding its offerings and catering to the evolving needs of the cryptocurrency market.

Read more at Cointelegraph: SBI’s crypto arm to support USDC as Japan softens stablecoin rules