Key Information:

• SBI VC Trade is now registered as an Electronic Payments Provider under Japan’s financial regulations.
• The exchange will be the first to list and distribute USDC in the country.

SBI VC Trade, a subsidiary of the financial giant SBI Holdings, has received regulatory approval as an Electronic Payments Provider in Japan. The approval allowed the exchange to offer stablecoins, marking it as the first in the country to list and distribute USDC.

“USDC becomes the first and only global dollar stablecoin to become approved for use in Japan,” wrote Circle CEO Jeremy Allaire.

In 2023, regulatory changes cleared the path for licensed intermediaries to handle foreign stablecoins, with oversight required.