SBI VC Trade, the crypto arm of Japan’s SBI Group, is preparing to support the USDC stablecoin following relaxed regulations on stablecoins in Japan.
On March 4, the platform secured its first registration to process USDC transactions, positioning itself as one of the first in Japan to offer such services. A trial for USDC trading will begin on March 12, with plans for full support shortly after. CEO Tomohiko Kondo confirmed the news on X (formerly Twitter), stating that the company had received official recognition from the Kanto Regional Financial Bureau as a licensed electronic payment operator.
This move aligns with Japan’s growing acceptance of stablecoins, as the Financial Services Agency (FSA) has been easing its regulatory stance.
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Top 5 Most Discussed Cryptocurrencies Right Now In 2023, Japan lifted its ban on foreign stablecoins, and earlier this year, the FSA backed policies aimed at simplifying stablecoin regulations. Alongside Circle, SBI VC Trade has partnered with Ripple and supports a range of cryptocurrencies, including Bitcoin, Ethereum, and XRP.
Alexander Zdravkov
