SBI and U.S. Circle sign basic agreement for business partnership — with a view to USDC distribution in Japan, etc. | CoinDesk JAPAN

SBI Holdings and Circle Internet Financial, which issues the stablecoin “USD Coin (USDC),” have announced a comprehensive initiative aimed at distributing USDC in Japan, opening bank accounts for Circle, and disseminating Web3-related services. The two companies announced on November 27 that they have entered into a basic agreement for a business partnership.

First of all, they aim to distribute USDC in Japan in order to expand the use of stable coins in Japan. USDC will be handled by SBI VC Trade, which aims to register as an electronic payment means trading business.

In addition, SBI Shinsei Bank plans to provide banking services in Japan to Circle Inc. by opening an account. It is said to improve access and liquidity to USDC for users, including businesses in Japan.

Furthermore, as part of its digital asset-related strategy, SBI Group has agreed to collaborate with Circle of the United States to provide various Web3-related systems, including programmable wallets, blockchain infrastructure, and smart contract management tools.

In a release, Circle CEO Jeremy Allaire said, “Our partnership with SBI Holdings shares our vision for the future of digital currencies and is an important milestone in Circle’s expansion plans in Japan and the Asia-Pacific region. Stone.”

On the other hand, Yoshitaka Kitao, Chairman and President of SBI Holdings, said, “The SBI Group is committed to working towards the realization of a new type of finance that utilizes stable coins.”

｜Text/Editing: CoinDesk JAPAN Editorial Department
｜Photo: Jeremy Allaire CEO (Keisuke Tada)