SBI Holdings, Inc., a leading Tokyo-based financial services firm, has announced its strategic partnership with Circle Internet Financial, the USD Coin (USDC) issuer.

This collaboration aims to increase the circulation of USDC and promote the use of Circle’s cutting-edge Web3 services in Japan while establishing a banking relationship.

SBI and Circle’s Partnership

This agreement, formalized through a Memorandum of Understanding (MOU), paves the way for enhanced adoption of USDC and innovative Web3 services across Japan.

Jeremy Allaire, CEO and co-founder of Circle, expressed enthusiasm about this partnership, stating, “Our collaboration with SBI sets new standards in Japan’s financial sector. We are united in our vision for the future of digital currency.”

Circle and SBI Holdings are joining forces to boost $USDC circulation and transform the financial landscape in Japan with $USDC and Web3 Services! This partnership signifies a major leap in digital asset innovation and a strategic expansion for $USDC in Asia.

Read more about…

— Circle (@circle) November 27, 2023

Yoshitaka Kitao, Representative Director, Chairman, President & CEO of SBI Holdings, echoed these sentiments, highlighting Japan’s readiness for stablecoins’ full-scale introduction.

“The signing of this comprehensive business alliance with Circle is a decisive step towards the widespread adoption of stablecoins in Japan. With USDC’s global usage and substantial market capitalization, we are committed to exploring new