A Strategic Partnership Between Circle and SBI Holdings:
- Circle partners with SBI Holdings to promote USDC in Japan.
- The partnership comes after favorable revisions to Japanese laws on stablecoins.
- The initiative aligns with Circle’s vision for expansion in Asia.
Circle x SBI Holdings: A Major New Agreement
Circle, the issuer of the USD Coin (USDC) stablecoin, has recently teamed up with SBI Holdings, a Tokyo-based financial services company.
This partnership, announced in a press release on November 27th, aims to expand the adoption of USDC and Web3 services in Japan.
Jeremy Allaire, CEO of Circle, highlights that this partnership marks an important milestone in Circle’s expansion plans in Asia.
He emphasizes the shared vision of Circle and SBI for the future of digital currency in the region.
Circle will also collaborate with SBI to promote the adoption of its Web3 services, aimed at the development and operation of Web3 applications on various blockchains.
Circle’s Adoption Worldwide
Although based in the United States, Circle notes that 70% of USDC adoption occurs abroad, primarily in Asia. The demand for “safe and transparent digital dollars” is also strong in Latin America and Africa.
Currently, USDC is the second-largest stablecoin after Tether (USDT), with a market capitalization of $24.6 billion.
