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The Coin Rise 2025-03-04 08:37:45

SBI VC Trade Secures Stablecoin License, USDC Trading in Japan Soon?

SBI VC Trade, a subsidiary of financial powerhouse SBI Holdings, gears up to launch USDC stablecoin trading in Japan. This milestone comes after regulators eased restrictions on stablecoin transactions, opening the door for broader adoption. On March 4, SBI VC Trade announced that it had successfully completed its first stablecoin transaction registration, a crucial step toward integrating Circle’s USDC into its platform. The company anticipates becoming one of Japan’s first financial institutions to offer cryptocurrency trading services for USDC, signaling a significant shift in the country’s approach to digital assets. Trial Phase Set to Begin The firm has outlined a structured rollout plan, starting with a USDC trading trial on March 12, available exclusively to a select group of users. Following a successful trial, a full-scale USDC launch is expected in the near future, marking a major milestone in Japan’s stablecoin ecosystem. Confirming the development, SBI VC Trade CEO Tomohiko Kondo took to X, revealing that the platform had received an official notification from Japan’s Kanto Regional Financial Bureau’s Tokyo office regarding its stablecoin license registration. “SBI VC Trade has become the first and only company in Japan to obtain a so-called stablecoin license,” Kondo wrote. He further emphasized the firm’s commitment to enabling full USDC support as part of its long-term strategy. Evolving Crypto Regulations in Japan SBI VC Trade’s announcement comes at a time when Japan is redefining its regulatory stance on stablecoins. After lifting its ban on foreign stablecoins in 2023, the country has steadily moved toward creating a more crypto-friendly regulatory environment. In February 2024, Japan’s Financial Services Agency (FSA) approved a report recommending eased regulations for stablecoins, a move that industry experts believe will fuel innovation and mainstream adoption. Beyond stablecoins, Japan is also exploring Bitcoin and Ether ETFs and reduced crypto tax rates from the current 55% to 20%, a potential game-changer aimed at bolstering investor confidence and market participation. Meanwhile, the impact of Japan’s growing crypto enthusiasm is already evident in traditional markets. Japanese firm Metaplanet has witnessed a major surge in its stock price, fueled by the increasing demand for Bitcoin. The post SBI VC Trade Secures Stablecoin License, USDC Trading in Japan Soon? appeared first on TheCoinrise.com .

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