SBI’s crypto arm to support USDC as Japan softens stablecoin rules
A significant shift is occurring in Japan’s cryptocurrency landscape as SBI VC Trade, a subsidiary of financial conglomerate SBI, prepares to introduce support for Circle’s USDC stablecoin. This development follows a pivotal easing of local regulations concerning stablecoins, marking a progressive step for the Japanese financial system.
On March 4, SBI VC Trade announced it had completed the initial registration necessary for conducting stablecoin transactions, paving the way to process USDC transactions effectively. With this full registration, the platform aims to establish itself as one of the pioneering exchanges in Japan to facilitate trading in USDC. Plans are underway to initiate a trial for a select group of users starting March 12, with a full-scale rollout expected shortly thereafter.
SBI VC Trade’s CEO, Tomohiko Kondo, took to X (formerly Twitter) to confirm this milestone, noting that the firm has become the first entity in Japan to secure a stablecoin license. He expressed the company’s commitment to enhancing its support for USDC.
This significant move unfolds against the backdrop of Japan’s broader regulatory landscape, which has seen a shift towards embracing overseas stablecoins. Earlier in 2023, Japanese regulators reportedly lifted a longstanding ban on foreign stablecoins, indicating a readiness to adapt to evolving global financial trends.
In a related development, the Japanese Financial Services Agency (FSA) recently approved a report advocating for regulatory reforms aimed at easing restrictions on stablecoin-related activities. Commissioner Hideki Ito has publicly supported the integration of stablecoins into Japan’s financial ecosystem, emphasizing their role in advancing remittance and settlement capabilities.
During the Fin/Sum 2025 event, Ito elaborated on the potential of stablecoins, endorsing their responsible utilization for enhancing financial services. His remarks underscore the growing recognition of stablecoins as pivotal instruments in fostering financial innovation in Japan.
SBI VC Trade, alongside its parent company SBI, has also been collaborating with prominent U.S.-based firms like Ripple, further illustrating its commitment to expanding its influence in the cryptocurrency space. At present, SBI VC Trade supports a diverse array of cryptocurrencies, including Bitcoin and Ether, among others.
The market anticipates that SBI VC Trade’s support for USDC will not only broaden user access to cryptocurrency trading but also stimulate further growth in Japan’s digital finance sector. As the country opens up to innovative financial technologies, stakeholders are eagerly watching to see how these developments will reshape Japan’s position in the global cryptocurrency market.
