Japan's Milestone: USDC Achieves First Dollar-Pegged Stablecoin Approval
by aria-crypto.com
March 4, 2025 at 20:13
Japan's Milestone: USDC Achieves First Dollar-Pegged Stablecoin Approval
Circle's USDC has been officially approved to operate in Japan, marking a significant milestone as the first global dollar-pegged stablecoin to receive such approval. CEO of Circle, Jeremy Allaire, announced this achievement, highlighting the collaboration with crypto exchange SBI, which is currently the only authorized firm to list and distribute USDC in Japan. Starting with a limited user base on March 12, SBI plans a full-scale launch of USDC trading shortly thereafter. This approval follows Japan's stablecoin legislation passed in June 2022, which mandates that stablecoins be linked to the yen or another legal tender to ensure redemption at face value. Dante Disparte, from Circle, lauded Japan's regulatory framework as an example of balanced policy that could guide other nations. This development positions Japan as a leader in the cryptocurrency sector, enhancing its digital financial services landscape.
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