Circle partners with SBI Holdings to offer potential stablecoins in Japan
Circle, the issuer of the second largest stablecoin by capitalization, USD Coin (USDC), has entered into a partnership agreement with Tokyo-based financial services company SBI Holdings. SBI Group and Circle have also committed to properly complying with regulations related to stablecoin s, including communication with authorities. To circulate USDC stablecoin s in Japan, SBI VC Trade Co., Ltd. (head office: Minato-ku, Tokyo) is seeking registration as an electronic payment instrument service, which is subject to government approval. The goal of the collaboration is to adapt the token and its own Web3 services in Japan, Circle says on its website. The parties came to an agreement against the backdrop of active work by the Japanese authorities on the formation of legal standards for stablecoin s. You might also like: Japan to lift its ban on foreign stablecoins in 2023 “Our partnership with SBI Holdings represents a shared vision for the future of digital currency, and is...