USDC Launches on SBI’s VC Trade Platform

USDC, the second-largest stablecoin by market cap, is now available to a limited user base on Japanese financial giant SBI’s VC Trade platform in a beta release. SBI states it will provide users with “access to digital US dollars” and promote the “development of the digital economy.”

As reported by Cryptopolitan on March 4, Japan’s online financial giant SBI is rolling out support for the popular dollar-pegged stablecoin USDC. As of Wednesday, March 12 (JST), USDC went live on the company’s SBI VC Trade platform in a limited, beta release.

The platform’s CEO Tomohiko Kondo stated on X (translated): “The beta version of USDC was released on SBIVC from 3pm today.”

Access to digital USD comes at a time when the Japanese yen is struggling against other fiat currencies globally, potentially attracting customers. The Japanese government has been actively regulating the use of cryptocurrencies in recent years, targeting a compliant mainstream market for digital assets to benefit both registered exchanges and smaller businesses. As noted earlier, SBI also maintains a partnership with XRP and Ripple.

In their announcement about USDC’s launch, the company highlighted (translated): “Through the handling of USDC, we will provide customers with access to digital US dollars and promote efficient and cost-effective electronic payment methods in line with the development of the digital economy.”

USDC is recognized as the second-largest stablecoin by market cap and is the first to gain regulatory approval for issuance in Japan, thanks to SBI’s license from the Financial Services Agency (FSA). The company concluded its announcement by stating: “We will continue to strive to start handling USDC on a full scale as soon as possible, so we appreciate your continued patronage of SBI VC Trade.”