SBI Holding and Circle Partner to Bring USDC and Web3 Services to Japan

Key Points:

• SBI Holdings and Circle partner to promote the use of stablecoins and other digital assets in Japan.
• The partnership will initially focus on circulating USDC, a fully regulated stablecoin that is pegged to the US dollar.
• The companies will also collaborate to establish a banking relationship and promote the use of Circle’s Web3 Services.

SBI Holdings and Circle Partner will collaborate on the circulation of USDC stablecoins, establish a banking relationship, and promote the use of Circle’s Web3 Services in Japan.

SBI Holding and Circle Partner to Drive Digital Asset Innovation in Japan

The partnership is a significant step forward for the development of the digital asset economy in Japan. USDC is a fully regulated stablecoin that is pegged to the US dollar. It is the world’s largest stablecoin, with a market capitalization of over $40 billion. USDC is backed 1:1 by assets held in reserve and is audited by leading accounting firms. SBI Group is a leading Japanese financial services company with a strong track record of innovation in the digital asset space. Circle is a global financial technology firm that is the issuer of USDC.

SBI Holding and Circle partner will initially focus on circulating USDC stablecoins in Japan. The companies will also work together to establish a banking relationship and promote the use of Circle’s Web3 Services, such as Programmable Wallet, blockchain infrastructure, and smart contract management tools.

SBI Holding and Circle Partner to Pioneer Stablecoin Adoption

“We are very pleased to have signed a basic agreement for a comprehensive business alliance with Circle, which manages and issues USDC, a stable coin with a market capitalization of nearly 4 trillion yen and used globally in more than 190 countries, and to have taken the first step toward widespread adoption of stablecoins in Japan,” said Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings.

SBI Holding and Circle partner is expected to have a significant impact on the development of the digital asset economy in Japan. The companies’ shared vision for the future of digital currency will help to promote the adoption of stablecoins and other digital assets in Japan.

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