Circle’s USDC Secures Regulatory Approval In Japan, Collaborates With SBI Holdings For Adoption
Circle, the issuer of USDC stablecoins, is back in the spotlight with its newly announced regulatory approvals and strategic alliance in Japan. In a statement released on March 25, 2025, Circle revealed its official entry into the Japanese market.
The company plans to utilize its Japanese subsidiary, Circle Japan KK, in conjunction with its collaboration with the Japanese financial powerhouse SBI Holdings, to facilitate the inaugural adoption of USDC in the region.
This partnership stems from SBI VC Trade, a crypto asset trading platform and a subsidiary of SBI Holdings, receiving certification from Japan’s Financial Services Agency (FSA) to include USDC under the stablecoin regulatory landscape of the nation.
Simultaneously, Circle has announced ongoing initiatives by prominent exchanges Binance Japan, bitbank, and bitFlyer to soon list and distribute USDC.
Circle is growing in Japan — Circle Japan KK, our local entity aims to foster presence and propel digital finance innovation within the market!
With @sbivc_official launching USDC tomorrow and major exchanges preparing to list soon, the stablecoin market in Japan is poised for expansion.
A major… pic.twitter.com/HOFTRs6Qo4
— Circle (@circle) March 24, 2025
This alliance enables Circle to leverage SBI VC Trade for a comprehensive launch of USDC on March 26, 2025.
Circle’s CEO Jeremy Allaire highlighted Japan’s pioneering stance in distributed record and stablecoin regulations, stating, “Japan has consistently led in the adoption of Web3 and distributed record technology, and its regulatory leadership has also been proactive with clear rules regarding stablecoins in the Japanese financial system.”
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Circle Continues Its Global Expansion, USDC Approval in Japan Marks a New Milestone
Clearly, Circle aims to solidify its presence on a global scale in regulated markets and has adopted an assertive strategy for USDC adoption over the past six months. A glance at December 2024 shows Circle and Binance collaborating to enhance and broaden USDC adoption while also aiding the development of global digital assets and a comprehensive financial services ecosystem.
In February 2025, Circle’s USDC and EURC, the euro-backed stablecoin, became the first stablecoins to achieve approval from the Dubai Financial Services Authority (DFSA). The subsequent month saw USDC gaining approval from Thailand’s Securities and Trading platform Commission (SEC), furthering Circle’s global expansion endeavors.
GCash, a crypto wallet service based in the Philippines, announced price floor for USDC on March 18, 2025. The protocol, which has around 100 million users, recognizes the increasing significance of stablecoins within its remittance market, processing over $65 billion in annual transactions.
The largest and most frequently used digital money app in the Philippines, GCash, has just unveiled price floor for USDC in their mobile crypto wallet. An additional ~100m users are being integrated into Circle’s stablecoin ecosystem. https://t.co/ruscNYYjJI
— Jeremy Allaire – jda.eth / jdallaire.sol (@jerallaire) March 21, 2025
With Japan marking the latest milestone for Circle in the Asian market, Yoshitaka Kitao, CEO and President of SBI Holdings, emphasized that this strategic alliance with Circle fits into their broader strategy to foster blockchain-driven finance in Japan.
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USDC’s Growing Global Adoption Rate
According to Circle’s report, USDC has surpassed the growth rate of all other major global stablecoins, achieving an impressive 78% year-on-year increase. Its cumulative transaction volume has exceeded the $20 trillion threshold, and its monthly transaction volume hit $1 trillion in November 2024.
Since 2018, USDC has facilitated over $850 billion in
