SBI VC Trade, Japan's First USDC Launch

# SBI's VC Trade Launches USDC Stablecoin, Marking a Milestone in Japan SBI Group, a major Japanese financial conglomerate, has launched the USDC stablecoin on its digital asset trading platform, VC Trade. On October 12, SBI announced on its official website the introduction of the USDC beta service. Tomohiko Kondo, CEO of VC Trade, expressed optimism, stating, "The launch of USDC will stimulate the digital economy and enhance the efficiency of electronic payments." This rollout marks the first instance of a Japanese exchange offering a stablecoin with approval from financial authorities. Previously, SBI secured the necessary license for handling USDC through collaboration with Japan’s Financial Services Agency (FSA). USDC, the second largest stablecoin by market capitalization, is pegged 1:1 to the U.S. dollar. # Rising Interest Due to Policy Changes Recent digital asset-friendly policies under former President Trump have brought stablecoins into the spotlight, leading to notable developments in Japan. Amidst the yen's weakening against major fiat currencies, stablecoins are emerging as a viable alternative. # Industry Experts Weigh In Experts suggest that SBI’s introduction of USDC could become a critical turning point for the establishment of a stablecoin market in Japan. SBI has also communicated its commitment to swiftly move from beta to full operations, stating, "We aim to commence full-scale USDC operations as soon as possible and are dedicated to ongoing service improvements."