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ToggleSBI VC Trade Officially Becomes the First Registered Operator
SBI VC Trade Co., Ltd., a cryptocurrency exchange operator under SBI Holdings, officially completed the registration as an "Electronic Payment Means Operator" on March 4, 2025. This makes the company the first in Japan that can legally trade the stablecoin "USDC".
What is the New System Required for Stablecoin Exchanges?
Starting from June 1, 2023, stablecoins circulating in Japan must be registered as an "Electronic Payment Means Operator" or an "Electronic Payment Service Provider". This new system, based on the Payment Services Act and the Banking Act, aims to ensure that electronic payment means linked to the value of legal tender are properly managed and circulated.
The registration of SBI VC Trade is the first case in Japan, marking an important step in the widespread adoption of stablecoins in Japan.
Collaborating with Circle to Promote USDC Trading
SBI Holdings had already signed a basic business cooperation agreement with Circle Internet Financial, the issuer of the globally largest regulated stablecoin USDC, in November 2023.
With the completion of this registration, SBI VC Trade plans to launch the USDC Beta version for limited users on March 12, 2025, after system maintenance, and prepare for the official launch of USDC trading.
What is USDC? A Digital Asset with High Transparency and Stability
USDC is a stablecoin pegged 1:1 to the US dollar, fully backed by cash and cash equivalents, with the following features:
- Redeemable 1:1 for US dollars
- Reserve assets held at trusted financial institutions
- Undergoes monthly third-party audits to ensure transparency
Through USDC trading, SBI VC Trade provides a digital US dollar access channel to support the development of Japan's digital economy.
SBI VC Trade Obtains 3 Licenses, Exploring New Services
With the successful registration as an "Electronic Payment Means Operator" (No. 00001), SBI VC Trade now holds the following 3 licenses:
- Cryptocurrency Exchange Business (No. 00011)
- Type I Financial Instruments Business (No. 3247)
- Electronic Payment Means Operator (No. 00001)
This allows SBI VC Trade to combine cryptocurrencies and stablecoins to develop innovative financial services, contributing to the further development of digital payments in Japan.
Future Development of the Japanese Stablecoin Market
The successful registration of SBI VC Trade may make it a pioneer in Japan's stablecoin trading. As the regulatory environment in Japan continues to improve, the widespread adoption of USDC and other stablecoins is expected to bring significant changes to the Japanese financial market.
The market is focused on the future full-scale introduction of USDC and the development of new digital payment services, which are expected to have a profound impact on Japan's financial ecosystem.
Risk Warning
Cryptocurrency investment is highly risky, and its price may fluctuate dramatically. You may lose your entire principal. Please carefully evaluate the risks.
