SBI Group, Japan's financial giant, announced today that its cryptocurrency exchange subsidiary SBI VC Trade has successfully registered as an "Electronic Payment Methods Exchange Service Provider"—becoming the first licensed platform in Japan authorized to offer USD Coin (USDC) trading services.
Japan's Stablecoin Legalization Milestone
On June 1, 2023, Japan implemented the revised Payment Services Act, which:
- Classifies stablecoins as a new form of "electronic settlement method"
- Lifts the ban on foreign-issued stablecoins circulating domestically
- Mandates that all businesses handling stablecoin transactions must obtain government-issued licenses
This regulatory shift paves the way for compliant stablecoin adoption in Japan’s digital economy.
SBI VC Trade’s Strategic Moves
Partnership With Circle
In November 2023, SBI VC Trade signed a Memorandum of Understanding (MoU) with Circle, the issuer of USDC, to boost stablecoin circulation in Japan.
👉 Learn how USDC transforms cross-border payments
Beta Launch Timeline
With full licensing secured, SBI VC Trade plans to:
- Roll out Beta testing for selected users after system maintenance completes on March 12
- Gradually expand service availability
- Target full-scale USDC trading access
Why This Matters for Japan’s Crypto Economy
SBI VC Trade emphasized:
"Introducing USDC not only provides users with dollar-stablecoin utility but also enhances digital payment efficiency, reduces transaction costs, and accelerates Japan’s digital economy growth."
Core Keywords
- USD stablecoin Japan
- USDC trading
- SBI VC Trade
- Payment Services Act
- Electronic settlement methods
- Circle partnership
- Stablecoin regulation
FAQ Section
Q: When can Japanese users trade USDC?
A: Beta testing begins March 12, 2024, with full access expected shortly after.
Q: What makes USDC different from other stablecoins in Japan?
A: USDC is the first USD-pegged stablecoin approved under Japan’s new regulatory framework.
Q: Do users need special accounts to trade USDC?
A: Existing SBI VC Trade accounts will support USDC; no additional registration is required.
👉 Discover more about compliant stablecoin trading
Disclaimer: This content provides market information only. All views expressed are for reference and do not constitute financial advice. Investors should make independent decisions, and neither the author nor associated platforms bear responsibility for any direct/indirect losses.