San Francisco, California – April 15, 2022
Circle, a leading global financial technology company, has announced a strategic partnership with SBI Holdings, a renowned financial conglomerate headquartered in Japan. This collaboration aims to support and facilitate the use of USD Coin (USDC), a stablecoin pegged to the US dollar, in the Japanese market.
USDC has gained significant popularity worldwide due to its stability and transparency. As a digital asset, it offers a unique blend of the traditional financial system with the efficiency and programmability of blockchain technology. Its widespread acceptance has made it an integral part of numerous cryptocurrency exchanges and DeFi platforms.
By partnering with SBI Holdings, Circle aims to extend the adoption of USDC in Japan, leveraging SBI’s extensive network and expertise in the local financial market. This collaboration will allow Japanese consumers and businesses to access the benefits of USDC, enabling secure and efficient transactions with enhanced financial flexibility.
SBI Holdings has been a major player in the Japanese financial industry, with subsidiaries engaged in a wide range of financial services, including banking, securities, and asset management. Their deep understanding of regulatory compliance and commitment to innovation makes them an ideal partner for Circle in expanding the reach of USDC.
Jeremy Allaire, Circle’s CEO, expressed excitement about this partnership, stating, “Japan is a key market for us, and we are delighted to partner with SBI Holdings to foster the adoption of USDC. This collaboration will empower individuals, businesses, and developers to participate in the global digital economy seamlessly while maintaining the highest standards of security and compliance.”
Yoshitaka Kitao, CEO of SBI Holdings, shared similar enthusiasm. “USDC has demonstrated its unique value proposition as a trusted stablecoin globally. As one of the leading financial groups in Asia, we are thrilled to work with Circle to bring the benefits of USDC to our customers, supporting digital asset innovation in Japan and beyond,” he said.
With the increasing demand for stablecoins and digital currencies in Japan, the collaboration between Circle and SBI Holdings is expected to fuel participation in digital asset markets and promote cross-border transactions. It will serve as a significant step towards establishing Japan as a leading hub for cryptocurrency adoption and blockchain innovation.
The partnership will focus on enhancing the infrastructure for USDC and developing new use cases tailored to the Japanese market. Both companies are committed to working closely with regulators to ensure compliance with local regulations and foster a secure and transparent digital asset ecosystem.
As the world becomes increasingly interconnected through digital finance, partnerships like this are essential in promoting the seamless integration of traditional and digital financial systems. The Circle-SBI Holdings collaboration signifies a major milestone in the widespread adoption of USDC in Japan, opening up new possibilities and transforming the way individuals and businesses transact in the digital economy.
Contact:
Media Relations - Circle: media@circle.com
Media Relations – SBI Holdings: press@sbi.jp