SBI VC Trade Co., Ltd., a subsidiary of SBI Holdings, Inc. engaged in cryptocurrency exchange business, announced that as of March 4, 2025, it has completed its registration as an “Electronic Payment Instruments Exchange Service Provider”, enabling it to handle the stablecoin “USDC” for the first time in Japan.

Since June 1, 2023, regulations concerning “Electronic Payment Instrument Exchange Service Provider” and “Electronic Payment Instruments Handling Business” have been revised, requiring businesses engaged in the distribution of electronic payment instruments linked to the value of legal tender—commonly referred to as stablecoins—to register under the Payment Services Act or the Banking Act.

SBI Holdings, signed a Memorandum of Understanding in November 2023 for a comprehensive business alliance with Circle Internet Financial, the issuer of USDC, the world’s largest regulated stablecoin.

With the completion of its registration as an “Electronic Payment Instrument Exchange Service Provider”, SBI VC Trade Co plans to launch a beta version of USDC services to limited users starting March 12, 2025, after scheduled system maintenance.

Moving forward, it aims for the full-scale adoption of USDC as soon as possible.

USDC is a digital asset that can be exchanged 1:1 with the U.S. dollar and is fully backed by highly-liquid cash and cash-equivalent assets. These backing assets are securely held by reputable financial institutions with monthly attestations completed by a third-party organization to provide a high level of transparency.