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Circle and SBI Holdings Collaborate to Boost USDC Adoption in Japan

Circle and SBI Holdings join forces to introduce USD Coin (USDC) to Japan, capitalizing on the recent regulatory measures for stablecoins. The partnership aims to propel Japan toward a Web3 economy, with SBI Holdings seeking registration to enhance stablecoin adoption.

Strategic Partnership for USDC Expansion

Circle, the issuer of USD Coin (USDC), has entered into a memorandum of understanding (MOU) with SBI Holdings, aiming to enhance the adoption of USDC and Web3 services in Japan. The move follows the Japanese government's regulatory measures for stablecoins and aligns with the push toward a Web3 economy.

SBI Holdings Pursues Electronic Payment Instruments Registration

As part of the collaboration, SBI Holdings is seeking registration as an electronic payment instruments service provider, a crucial step subject to approval by Japanese authorities. This initiative is seen as a significant move toward fostering mass adoption of stablecoins in Japan.

Circle's Full-Stack Web3 Services in Focus

Beyond USDC adoption, Circle and SBI plan to work together to promote the adoption of Circle's comprehensive Web3 Services suite. The suite facilitates end-to-end development, deployment, and operations of Web3 apps across various blockchains, emphasizing applications in games, culture, and consumer entertainment.