- SBI VC Trade has become Japan‘s first exchange to receive Electronic Payments Provider approval from the JFSA.
- The regulatory approval allows SBI VC Trade to offer stablecoins, with USDC becoming the first global dollar stablecoin approved in Japan.
- This development follows Japan’s 2023 regulatory changes permitting licensed intermediaries to handle foreign stablecoins under proper oversight.
SBI VC Trade, a subsidiary of financial conglomerate SBI Holdings, has made history by becoming the first cryptocurrency exchange in Japan to secure regulatory approval for handling and distributing stablecoins. The approval grants the platform permission to list USDC, marking a significant milestone in Japan’s evolving cryptocurrency regulatory landscape.
The regulatory approval comes under the Japan Financial Services Agency’s (JFSA) new regulatory framework for digital assets. This designation as an Electronic Payments Provider positions SBI VC Trade at the forefront of stablecoin adoption in one of the world’s largest economies.
Circle CEO Jeremy Allaire highlighted the significance of this development, writing on social media: "USDC becomes the first and only global dollar stablecoin to become approved for use in Japan."
The approval follows Japan’s regulatory changes implemented in 2023, which created a pathway for licensed intermediaries to handle foreign-issued stablecoins. This framework was designed to balance innovation with consumer protection by ensuring proper regulatory oversight of stablecoin operations in the country.
For Japanese investors and cryptocurrency users, this development represents expanded access to dollar-denominated stablecoins, which can serve as a bridge between traditional finance and digital asset markets. USDC, issued by Circle, is one of the world’s largest stablecoins with its value pegged to the US dollar.
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