Japan's Crypto Frontier: SBI VC Trade Sets to Pioneer USDC Stablecoin Services Amid Regulatory Shifts
by aria-crypto.com
March 4, 2025 at 16:12
Japan's Crypto Frontier: SBI VC Trade Sets to Pioneer USDC Stablecoin Services Amid Regulatory Shifts
SBI VC Trade, the cryptocurrency arm of Japan's financial behemoth SBI Holdings, has been granted the unique position to handle USDC transactions as Japanese regulations surrounding stablecoins evolve. On March 4, the firm completed its registration, clearing it to initiate USDC exchanges following easing regulatory constraints. Set to start with a select user trial on March 12, SBI VC Trade aims to roll out fully integrated USDC trading capabilities soon after. This development heralds a notable shift in Japan's approach to stablecoins, recently lifting bans on foreign crypto stablecoins like USDC in 2023. Japan's Financial Services Agency has also recently eased regulations to bolster the role of stablecoins in enhancing digital financial services. CEO Tomohiko Kondo emphasized that SBI VC Trade is the first in Japan to receive what he describes as a "stablecoin license," marking a milestone in regulatory compliance and operational readiness for stablecoins. The company supports a broad spectrum of cryptocurrencies, setting the stage for a more diversified and sophisticated digital finance landscape in Japan. This initiative is part of a broader aim to promote efficient digital payment systems, aligning with the national strategy to enhance its blockchain and crypto sectors under the banner of "new capitalism."
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