Circle’s USDC Gets Green Light in Japan, Launch Set for March 26
Circle, the issuer of the USDC stablecoin, is set to officially launch its digital dollar in Japan on March 26, marking a significant milestone for stablecoin adoption in one of Asia’s most tightly regulated crypto markets.
The launch comes following regulatory clearance earlier this month, allowing SBI VC Trade—a cryptocurrency exchange operated under a joint venture between Circle Japan KK and Japanese financial giant SBI Holdings—to list USDC.
This approval, granted by Japan’s Financial Services Agency (FSA) on March 4, made SBI VC Trade the first platform in the country to receive the green light under Japan’s updated stablecoin framework.
Circle confirmed in a statement on March 24 that USDC will first go live on SBI VC Trade, with plans to expand its availability to major domestic platforms such as Binance Japan, bitbank, and bitFlyer in the near future.
A Two-Year Journey to Regulatory Greenlight
Jeremy Allaire, CEO of Circle, described the approval process as the culmination of a two-year dialogue with Japanese regulators and banking partners. In a post on X, Allaire emphasized that this regulatory breakthrough opens up new possibilities—not only for crypto trading, but for broader applications such as payments, foreign exchange, and cross-border finance.
“This is more than a listing,” Allaire noted. “It’s a signal that stablecoins like USDC can play a legitimate role in next-generation financial services, compliant with some of the world’s most rigorous standards.”
Growing Footprint in Japan’s Digital Economy
The rollout of USDC is aligned with Japan’s broader push toward digital transformation and innovation in the financial sector. Yoshitaka Kitao, CEO of SBI Holdings, said the move would enhance financial access and accelerate blockchain-based innovation across the country’s evolving economy.
With bitbank and bitFlyer already processing over $25 million in daily trading volume and attracting more than 1.85 million monthly visits, the entry of USDC into these exchanges could significantly boost liquidity and usage of regulated stablecoins in Japan.
USDC Gains Global Traction
The announcement comes just weeks after USDC and Circle’s euro-backed EURC received formal recognition under the Dubai Financial Services Authority’s regulatory framework, making them the first stablecoins approved for use within the Dubai International Financial Centre. The approval allows integration into a wide range of use cases, including treasury management, payments, and DeFi services.
Globally, USDC continues to hold its place as the second-largest stablecoin by market capitalization at approximately $59.7 billion, trailing behind Tether’s USDT, which remains the market leader with a cap of around $143.8 billion, according to CoinGecko data.
With Japan’s evolving regulatory landscape now welcoming licensed stablecoins, Circle’s expansion into the country could pave the way for wider adoption of compliant digital dollars across Asia. As more markets explore similar frameworks, stablecoins like USDC may soon become essential tools in mainstream financial infrastructure—from trading desks to payment rails.
