USDC stablecoin receives approval for use in Japan, says Circle

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Coin Telegraph 1d ago

USDC stablecoin receives approval for use in Japan, says Circle - Coin Telegraph

Quick Summary:

Source: Jeremy AllaireSBI Holdings CEO and president Yoshitaka Kitao said the USDC launch would enhance financial accessibility and drive crypto innovation in Japan’s evolving digital economy.“[This aligns] with our broader vision for the future of payments and blockchain-based finance in Japan.”Related: Gold-backed stablecoins will outcompete USD stablecoins — Max KeiserMeanwhile, USDC and Circle’s euro-backed EURC (EURC) stablecoin were recognized as the first stablecoins under the Dubai Financial Services Authority’s new regime on Feb.24.

USDC (USDC) will first be listed on the “SBI VC Trade” crypto exchange under a joint venture between its parent firm — Japanese financial conglomerate SBI Holdings — and Circle’s Japanese entity Circle Japan KK, Circle said in a March 24 statement.

The regulatory approval comes after two years of back-and-forth negotiations with regulators, banking partners, and industry players, Circle’s Jeremy Allaire said in a March 24 X post.“[This] unlocks tremendous opportunities not just in trading digital assets, but more broadly in payments, cross border finance and commerce, FX,” he added.