Circle, the issuer of the USDC stablecoin, will officially launch the digital dollar in Japan on March 26, the company announced in a statement on March 24. The rollout follows regulatory approval secured by local partner SBI VC Trade earlier this month.
SBI VC Trade, a crypto exchange operated under the umbrella of Japanese financial giant SBI Holdings, gained approval on March 4 from Japan’s Financial Services Agency (FSA) to list USDC — making it the first platform in the country to receive such permission under Japan’s updated stablecoin regulations. The USDC listing will be carried out in partnership with Circle Japan KK, Circle’s local entity.
This marks a significant step for Circle in expanding USDC’s reach into Asia’s highly regulated markets. The company also plans to bring USDC to other leading Japanese exchanges, including Binance Japan, bitbank, and bitFlyer. Bitbank and bitFlyer are among Japan’s most active crypto trading platforms, each handling over $25 million in daily volume and attracting more than 1.85 million visitors in the last month.
Circle CEO Jeremy Allaire described the regulatory milestone as the result of two years of collaborative efforts with Japanese regulators and financial partners. In a post on X, Allaire said the approval “unlocks tremendous opportunities” beyond crypto trading, including payments, cross-border settlements, and foreign exchange.
Yoshitaka Kitao, CEO and president of SBI Holdings, said the launch aligns with Japan’s broader vision for blockchain innovation and financial inclusion. “USDC’s arrival enhances financial accessibility and paves the way for a more advanced digital economy in Japan,” he stated.
The Japan expansion follows recent regulatory recognition of both USDC and Circle’s euro-pegged stablecoin EURC by the Dubai Financial Services Authority. That designation allows the stablecoins to be integrated into a wide range of financial services within the Dubai International Financial Centre.
USDC remains the world’s second-largest stablecoin by market capitalization, currently valued at $59.7 billion, according to CoinGecko. It trails only Tether’s USDT, which holds a dominant $143.8 billion market cap.
