USDC Launches in Japan Through Circle and SBI Partnership, Marking Web3 Milestone

Circle, the issuer of USD Coin (USDC), is launching the stablecoin in Japan on March 26 through a strategic partnership with SBI Holdings. The move marks a major milestone for Japan's blockchain ecosystem and the global stablecoin market.

The launch follows regulatory approval from Japan’s Financial Services Agency (JFSA) earlier this month under the country’s electronic payments framework. Circle CEO Jeremy Allaire emphasized Japan’s progressive stance on Web3 adoption and its regulatory clarity around stablecoins. “Japan has long led the way in Web3 and blockchain, and their clear rules have made this launch possible,” Allaire said.

Circle has spent the past two years working closely with Japanese regulators to prepare for the rollout. SBI Holdings CEO Yoshitaka Kitao expressed confidence in the collaboration, stating, “We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our vision for blockchain-based finance in Japan.”

USDC is the world’s second-largest stablecoin with a market cap of approximately $59.7 billion, according to CoinGecko. Its expansion into Japan reflects the growing demand for regulated digital currencies in Asia.

A recent Circle report highlights that the Asia-Pacific region leads in digital currency transaction volume, accounting for 29% of global activity. This surpasses Western Europe (22%) and North America (19%), further underscoring the region’s growing influence in the digital asset space.

Circle’s recent partnership with the Philippines’ largest digital wallet, GCash, which now supports USDC, further demonstrates its commitment to expanding access to stablecoins across Asia.

This launch positions Japan as a key hub for the future of digital payments and reinforces USDC’s global footprint in the regulated crypto economy.