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Stablecoin Issuer Circle Partners SBI Holdings for USDC Adoption in Japan
Circle Financial, one of the leading stablecoin issuers in the crypto industry and a financial technology company, has partnered with SBI Holdings to expand its presence in Japan.
In an announcement on November 27, the company stated that it had signed a memorandum of understanding (MoU) with Tokyo-based SBI Holdings, a financial services conglomerate, to broaden the adoption of its USDC stablecoin and the Web 3 ecosystem outside the United States, where Circle is headquartered.
Circle Secures New Partner for USDC Adoption
The move follows the Japanese government’s introduction of its revised payment services act on June 3 to establish a clear regulatory framework for the issuance and usage of stablecoins in the country. According to authorities, the amended law is expected to stimulate and advance the country’s adoption of the crypto industry as well as the Web3 economy.
With the rules in place
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