USDC Stablecoin Receives Approval for Launch in Japan, Circle Announces

March 25, 2025 — Circle has announced that its USDC stablecoin will officially launch on Japan’s SBI VC Trade crypto exchange starting on March 26. This move follows a regulatory approval granted to the stablecoin earlier this month, marking a significant milestone for Circle in expanding its presence in the Japanese market.

USDC Stablecoin Launches on SBI VC Trade

The launch of USDC in Japan is the result of a partnership between Circle and the Japanese financial conglomerate SBI Holdings. USDC will be available on SBI VC Trade, a crypto exchange operated under a joint venture between SBI Holdings and Circle Japan KK. According to a statement released on March 24, the listing of USDC on the platform follows the approval from Japan's Financial Services Agency (FSA) on March 4, which granted regulatory clearance for the stablecoin’s inclusion under Japan’s new stablecoin framework.

The approval marks the end of two years of negotiations with regulators, banking partners, and industry stakeholders. Circle’s CEO, Jeremy Allaire, highlighted the significance of the approval, stating that it opens up new opportunities not just for digital asset trading, but also for payments, cross-border finance, foreign exchange, and more.

Expansion Plans for USDC in Japan

Circle is not stopping at SBI VC Trade. The company has plans to further expand the availability of USDC across Japan's largest crypto exchanges. Circle is working to list USDC on prominent Japanese exchanges such as Binance Japan, bitbank, and bitFlyer in the near future. These exchanges have seen significant trading volume, with bitbank and bitFlyer processing over $25 million in trades each over the last 24 hours.

Japan's cryptocurrency market has been growing steadily, and the regulatory approval for USDC aims to further drive adoption and innovation in the country’s digital economy. SBI Holdings CEO and president, Yoshitaka Kitao, emphasized that the launch of USDC would contribute to enhancing financial accessibility and fostering blockchain-based finance in Japan.

Global Expansion of USDC and Circle's Stablecoin Recognition

This regulatory approval in Japan follows a string of successes for Circle on the global stage. On February 24, 2025, Circle’s USDC and its euro-backed stablecoin, EURC, were officially recognized under the Dubai Financial Services

Authority’s new regulatory regime. This recognition allows companies operating within the Dubai International Financial Centre (DIFC) to use both stablecoins for digital asset applications such as payments, treasury management, and more.

Currently, USDC remains the second-largest stablecoin by market capitalization, with a value of approximately $59.7 billion, trailing only Tether’s USDT, which has a market cap of $143.8 billion, according to data from CoinGecko.

With USDC now set to launch in Japan, Circle’s global reach continues to expand, and the stablecoin's presence in major financial hubs such as Japan and Dubai further reinforces its position in the digital asset ecosystem.

Learn more about Circle's USDC stablecoin and its global expansion.