Circle, the stablecoin issuer behind USD Coin (USDC), has partnered with Tokyo-based financial services firm SBI Holdings to promote the adoption of USDC and Web3 services in Japan. The collaboration was formalized through a memorandum of understanding (MOU) signed on November 27. This move comes after the Japanese government revised the Payment Services Act to regulate stablecoins, which Circle believes will encourage the issuance and circulation of stablecoins in Japan and facilitate the country’s transition towards a Web3 economy. SBI Holdings is currently seeking registration as an electronic payment instruments service to facilitate the circulation of USDC in Japan. SBI Holdings CEO and President Yoshitaka Kitao sees this partnership as a step towards widespread stablecoin adoption in Japan. Circle’s CEO Jeremy Allaire expressed excitement about the collaboration, stating that it represents a shared vision for the future of digital currency in Japan and Asia. As part of the partnership, SBI Shinsei Bank will provide banking services to Circle, enabling access to USDC and liquidity for businesses and users in Japan.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	Asia
Countries	🇯🇵
Sentiment	positive
Relevance Score	1
People	Jeremy Allaire, Yoshitaka Kitao
Companies	SBI Shinsei Bank, SBI Holdings, Circle
Currencies	US Dollar, USDC
Securities	None