Japan’s SBI Holdings, a leader in asset management and blockchain technology, has formed a strategic collaboration with Circle, the company behind the USDC stablecoin. This partnership aims to promote the adoption of digital currencies, specifically the USDC stablecoin, in the Japanese market. SBI Trade is seeking approval to deal in USDC under electronic payment regulations, while SBI Shinsei Bank will provide banking infrastructure for USDC integration. USDC is a stablecoin backed by cash and cash-equivalent assets, redeemable 1 to 1 for US dollars. The collaboration comes as the Japanese government is regulating stablecoins, which is expected to boost their issuance and use in Japan.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | Asia |
| Countries | 🇯🇵 🇺🇸 |
| Sentiment | positive |
| Relevance Score | 1 |
| People | Yoshitaka Kitao, Jeremy Allaire |
| Companies | SBI Shinsei Bank, SBI Trade, Circle, USDC, SBI Holdings |
| Currencies | US Dollar, USDC |
| Securities | None |
