SBI VC Trade Officially Becomes the First Registered Operator
On March 4, 2025, SBI VC Trade Co., Ltd., a subsidiary of SBI Holdings, officially completed its registration as an “Electronic Payment Instruments Operator.” This milestone makes SBI VC Trade the first company in Japan legally authorized to trade stablecoins, starting with USDC.
What Is the New Regulatory Framework for Stablecoin Trading?
Since June 1, 2023, any entity wishing to circulate stablecoins in Japan must register as either:
- An “Electronic Payment Instruments Operator” or
- An “Electronic Payment Services Provider.”
This new regulatory framework was established under the Payment Services Act and the Banking Act, ensuring that electronic payment instruments pegged to fiat currency are properly managed and circulated.
With SBI VC Trade’s successful registration, Japan has taken a significant step toward the adoption of stablecoins.
Partnership with Circle to Facilitate USDC Trading
As early as November 2023, SBI Holdings signed a business partnership agreement with Circle Internet Financial, the issuer of USDC and the world’s largest regulated stablecoin provider.
Now that the registration is complete, SBI VC Trade plans to launch a USDC Beta version for selected users on March 12, 2025, after system maintenance, paving the way for full-scale USDC trading.
What Is USDC? A Highly Transparent and Stable Digital Asset
USDC is a stablecoin pegged 1:1 to the US dollar, fully backed by cash and cash-equivalent assets. Key features include:
- 1:1 convertibility with USD
- Reserves held in trusted financial institutions
- Monthly third-party audits to ensure transparency
By offering USDC trading, SBI VC Trade provides a seamless digital USD access point, supporting the growth of Japan’s digital economy.
SBI VC Trade Acquires Three Licenses, Exploring New Financial Services
With its new “Electronic Payment Instruments Operator” license (No. 00001), SBI VC Trade now holds three financial licenses in Japan:
- Crypto Asset Exchange Operator (No. 00011)
- Type I Financial Instruments Business Operator (No. 3247)
- Electronic Payment Instruments Operator (No. 00001)
These licenses enable SBI VC Trade to integrate crypto assets with stablecoins, fostering new financial services and contributing to the advancement of Japan’s digital payment ecosystem.
The Future of Japan’s Stablecoin Market
With SBI VC Trade pioneering legal stablecoin trading in Japan, it is set to become a leader in the country’s stablecoin adoption.
As government regulations continue to evolve, the widespread adoption of USDC and other stablecoins is expected to transform Japan’s financial market.
Investors and market participants are closely watching the full-scale introduction of USDC and the development of next-generation digital payment services, which could have a profound impact on Japan’s financial ecosystem.
