COMING SOON: A New Way to Earn Passive Income with DeFi in 2025 LEARN MORE

Beta version of USDC now live on Japan’s SBI VC Trade platform

691947
Beta version of USDC now live on Japan’s SBI VC Trade platform

Contents

Share link:

In this post:

  • Stablecoin USDC is now available via beta release to select customers of Japan’s SBI VC Trade service.
  • The online financial juggernaut says the release will provide users with “access to digital US dollars.”
  • A full release date is to be issued shortly, according to an SBI press release.

USDC, the second-largest stablecoin by market cap, is now available to a limited user base on Japanese financial giant SBI’s VC Trade platform in a beta release. SBI says it will provide users with “access to digital US dollars” and promote “development of the digital economy.”

As reported by Cryptopolitan on March 4, Japan’s online financial giant SBI is rolling out support for the popular dollar-pegged stablecoin USDC. As of Wednesday, March 12 (JST) USDC is now live on the company’s SBI VC Trade platform in a limited, beta release.

The platform’s CEO Tomohiko Kondo stated on X (translated): “The beta version of USDC was released on SBIVC from 3pm today.”

Access to digital USD at a time when the Japanese yen is struggling to keep up with other fiat currencies globally could be an incentive for customers. The Japanese government has been stifling unregulated use of cryptocurrencies in recent years, aiming to make the mainstream, custodial market for digital assets friendly to compliant parties, and smaller businesses who fall under registered exchange supervision. As noted by our previous report, The financial giant also enjoys a partnership with XRP and Ripple.

In their announcement about USDC going live, the company emphasized (translated): “Through the handling of USDC, we will provide customers with access to digital US dollars and promote efficient and cost-effective electronic payment methods in line with the development of the digital economy.”

See also  Circle to launch USDC stablecoin in Japan on March 26 following regulatory approval

USDC is the second largest stablecoin by market cap, and the first to be approved from a regulatory standpoint for issue in Japan, via SBI’s license with the Asian state’s financial regulator, the Financial Services Agency (FSA). The company’s announcement concludes: “We will continue to strive to start handling USDC on a full scale as soon as possible, so we appreciate your continued patronage of SBI VC Trade.”

Cryptopolitan Academy: Want to grow your money in 2025? Learn how to do it with DeFi in our upcoming webclass. Save Your Spot

Share link:

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Editor's choice

Loading Editor's Choice articles...

The Crypto newsletter that keeps you ahead.

Markets move fast. We move faster.

Subscribe to Cryptopolitan Daily and get timely, sharp, and relevant crypto insights straight to your inbox.

✔️ Breaking news & regulatory updates
✔️ Expert analysis on market trends
✔️ No hype, just facts that matter

Join now and never miss a move.

Subscribe to CryptoPolitan