What to know:
- Circle plans to launch the USDC stablecoin in Japan on March 26, in partnership with SBI Holdings, following regulatory approval from the Japan Financial Services Agency. 🎉
- According to a 2024 report from Circle, the Asia-Pacific region, including Japan, accounts for 29% of global digital currency transaction volume. 🌍
Circle plans to launch USDC in Japan on March 26 through a partnership with local heavyweight SBI Holdings, marking a significant milestone for both the global stablecoin market and Japan’s blockchain ecosystem. Or, as one might say, the marriage of financial innovation and regulatory clarity in a land of rising sun and rising tech. 🌅
“Japan has long been at the forefront of the adoption of Web3 and blockchain technology, and Japan’s regulatory leadership has similarly been out in front on clear rules for the use of stablecoins in the Japan financial system,” said Jeremy Allaire, co-founder and CEO of Circle, in a release. A visionary statement if ever there was one, and one that surely has the tech gods nodding in approval. 🌕
The launch comes weeks after Circle and SBI received regulatory approval from the Japan Financial Services Agency (JFSA) earlier in March under the country’s electronics payment framework. A veritable triumph of bureaucracy and innovation! 🎖️
Allaire said in a post on X that Circle had spent two years engaging with regulators in Japan in preparation for the launch. Two years, one might say, of patient dance with the guardians of the financial gates. 🕺
“We believe this initiative will enhance financial accessibility and drive digital asset innovation, aligning with our broader vision for the future of payments and blockchain-based finance in Japan,” Yoshitaka Kitao, representative director, chairman, president and CEO of SBI Holdings, said in a statement. A noble vision indeed, akin to a samurai’s code of honor. 📜
USDC currently has a market cap of around $59.7 billion, according to CoinGecko data. A grand sum, one that would make even the wealthiest shogun envious. 🗳️
The Philippines largest digital wallet, GCash, recently added support for USDC. A sign, perhaps, that the digital currency tide is rising across the Pacific. 🌊
According to a 2024 report from Circle, the Asia-Pacific region accounts for 29% of global digital currency transaction volume, ahead of Western Europe at 22% and North America at 19%. A testament to the region’s digital prowess, or simply a harbinger of things to come? 🤔
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2025-03-25 08:27