SBI Holdings has announced the establishment of a joint venture with Circle Internet Holdings, the company behind USDC. The new entity will focus on promoting the use of USDC in Japan and developing related digital finance services.
The partnership aims to boost the adoption of USDC and unlock new use cases in payments, digital finance, and Web3 services. By combining SBI’s extensive financial network with Circle’s blockchain expertise, the venture aims to bridge key gaps in Japan’s digital asset market and provide investors with a trusted, regulated way to transact with stablecoins.
A Partnership Years in the Making
The joint venture builds on earlier agreements between the two companies.SBI signed a memorandum of understanding with Circle to explore USDC circulation in Japan in November 2023, and both parties signed a joint agreement in March 2025, which led to this launch.
The groundwork has already been laid. Earlier this year, SBI VC Trade—SBI’s crypto-asset exchange arm—became the first firm in Japan to register as an Electronic Payment Instruments Service Provider. That milestone allowed it to begin offering USDC trading services, making the stablecoin more accessible to Japanese investors.
“By leveraging the SBI Group’s financial infrastructure and Circle’s expertise, the two parties will contribute to advancing Japan’s digital financial ecosystem,” SBI Holdings said in its announcement.
SBI has also become a financial backer of Circle. Following Circle’s listing on the New York Stock Exchange in March 2025, the group purchased $50 million worth of Circle shares as a strategic investment.
Expanding Stablecoin and Web3 Horizons
The venture with Circle is part of SBI’s broader push into blockchain partnerships. Alongside USDC, the group is working with Ripple to roll out Ripple USD (RLUSD) in Japan and has teamed up with Singapore’s Startale to build a tokenized trading platform for stocks and real-world assets.
Also Read: Japan Prepares to Approve First Yen-Backed Stablecoins This Fall
