SBI’s crypto arm to support USDC as Japan softens stablecoin rules

A cryptocurrency subsidiary of the Japanese financial conglomerate SBI is preparing to roll out support for Circle’s USDC stablecoin as local regulators soften stablecoin rules.

On March 4, SBI VC Trade announced the completion of the first registration related to stablecoin transactions, enabling the firm to start processing USDC (USDC) transactions.

After receiving full registration, SBI VC Trade expects to become one of the first financial platforms in Japan to offer cryptocurrency trading in USDC, the announcement noted.

The platform plans to launch a USDC trading trial for selected users on March 12 and expects a full-scale USDC rollout in the near future.

Japan opens up to overseas stablecoins

SBI VC Trade CEO Tomohiko Kondo took to X on March 4 to confirm the news, stating that the platform had received a notification from the Kanto Regional Financial Bureau’s Tokyo office regarding the registration of an electronic payment instrument trading business operator.

“SBI VC Trade has become the first and only company in Japan to obtain a so-called stablecoin license,” he wrote, adding that the firm will continue to work toward full USDC support.

SBI VC Trade’s news marks a significant development of stablecoin regulations in Japan after the country reportedly lifted the ban on foreign stablecoins in 2023.

Related: Japan’s Metaplanet buys more Bitcoin, explores potential US listing

In February, Japan’s Financial Services Agency (FSA) reportedly approved a report from a working group recommending policy changes easing stablecoin-related regulations.

Japan regulator supports stablecoin settlement

SBI’s latest stablecoin moves came on the same day Financial Services Agency Commissioner Hideki Ito expressed support for stablecoin transactions in Japan.

Speaking at the Fin/Sum 2025 event during Japanese Fintech Week on March 4, Ito highlighted the role of stablecoins in financial innovation.

“Stablecoins are used soundly for the sophistication of remittance and settlement. I hope it will be done,” Ito stated in the speech, according to a report by the local news agency Nikkei.

Apart from Circle, SBI VC Trade and its parent company, SBI, have closely collaborated with other major companies in the United States, such as Ripple.

At the time of writing, SBI VC Trade supports a wide range of cryptocurrencies on its website, including Bitcoin (BTC), Ether (BTC), XRP (XRP) and others.

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