SBI VC Trade, a subsidiary of the financial giant SBI Holdings, has ensured regulatory approval as a supplier of electronic payments in Japan.
The regulatory approval, granted under the new framework of the Financial Services Agency of Japan (JFSA), allows the exchange to offer Stablecoins, which makes it the first in the country to enumerate and distribute USDC.
“The USDC becomes the first and only global dollar Stablcoin to be approved for use in Japan,” wrote the CEO of Circle Jeremy Allaire.
In Japan, the regulatory changes in 2023 clear the way for licensed intermediaries to handle foreign stables, subject to supervision.
