Circle, issuer of stablecoin USDC, has partnered with Japanese securities and banking giant SBI Holdings to strengthen its position in Japan.
According to the statement made by Circle today, the parties signed a memorandum of understanding to conduct “work with SBI Group on the circulation of USDC in Japan and the expansion of stablecoin usage in the initial phase of Circle.”
SBI VC Trade is seeking to register as an electronic payment instrument service provider in Japan in order to circulate its USDC stablecoin in Japan.
According to the statement, SBI Shinsei Bank will provide banking services to Circle. In Circle’s statement, “This will provide USDC liquidity and access to Japan-based businesses and users.” It was said.
SBI Group will use Circle’s Web3 services such as Programmable Wallet, blockchain infrastructure and smart contract management tools as part of its digital asset strategy.
Circle CEO Jeremy Allaire said their agreement with SBI Holdings represents “a shared vision for the future of digital money” and that the company “An important milestone for growth plans in Japan and Asia Pacific.” said that.
SBI Holdings expanded into cryptocurrency projects earlier this month. 100 million dollars It had teamed up with SC Ventures, the investment arm of Standard Chartered in the United Arab Emirates, to invest.