SBI VC Trade to launch USDC transactions as Japan eases rules

SBI VC Trade, the cryptocurrency arm of Japan’s SBI Group, has completed its first registration to support Circle’s USDC (CRYPTO:USDC) stablecoin, following regulatory changes easing restrictions on foreign stablecoins.

The platform announced on March 4 that it expects to launch USDC transactions for selected users on March 12, with plans for a full rollout in the near future.

SBI VC Trade CEO Tomohiko Kondo confirmed that the company received registration approval from the Kanto Regional Financial Bureau, making it the first in Japan to secure a stablecoin license.

"SBI VC Trade has become the first and only company in Japan to obtain a so-called stablecoin license," Kondo stated on X.

The move comes after Japan lifted its ban on foreign stablecoins in 2023 and the Financial Services Agency (FSA) approved policy recommendations in February aimed at easing stablecoin regulations.

Circle CEO Jeremy Allaire described USDC as the "first and only global dollar stablecoin to become approved for use in Japan," congratulating SBI on being the first platform permitted to list and distribute USDC.

Japan’s financial regulators have expressed growing support for stablecoin transactions.

During the Fin/Sum 2025 event on March 4, FSA Commissioner Hideki Ito highlighted stablecoins' role in advancing financial settlements and remittances.

"Stablecoins are used soundly for the sophistication of remittance and settlement. I hope it will be done," Ito said, according to Nikkei.

SBI VC Trade and its parent company SBI have maintained strong partnerships with U.S. firms, including Ripple (CRYPTO:XRP).

At present, SBI VC Trade supports a range of cryptocurrencies, including Bitcoin (CRYPTO:BTC), Ethereum (CRYPTO:ETH), and XRP, alongside its new USDC initiative.