USDC to See More Japanese Users as Circle Partners With SBI Holdings
Circle partners with SBI Holdings to expand USDC and Web3 in Japan, aiming to boost stablecoin adoption and develop Web3 applications.
Circle, the company behind USDC, recently announced a partnership with Japan's SBI Holdings to promote USDC and Web3 in Japan. Both companies signed a memorandum of understanding on Nov. 27, with the aim of expanding USDC's reach in Japan, this is majorly due to the recent stablecoin regulations.
SBI Holdings plans to register as an electronic payment service to start USDC circulation in Japan, this is currently awaiting approvals from Japanese authorities. CEO Yoshitaka Kitao sees this as an important step towards promoting the use of stablecoin in Japan.
Circle CEO Jeremy Allaire views the partnership as a major achievement for Circle's expansion in Asia. The Purpose of this collaboration is to boost the adoption of Circle’s Web3 Services, focusing on the development of Web3 apps, including games and entertainment.
