USDC, the second largest Stablecoin by market capitalization, is now available in beta release to a limited user base of Japanese financial giant SBI’s VC trading platform. SBI says it will provide users with “access to digital US dollars” and promote “developing the digital economy.”
As reported by Cryptopolitan on March 4th, Japanese online financial giant SBI is rolling out support for the popular dollar peg Stablecoin USDC. Wednesday, March 12th (JST) USDC is currently being released in a beta release limited to the company’s SBI VC trading platform.
Platform CEO Tomohiko nodo said in X (translated) that “USDC beta was released on SBIVC from 3pm today.”
Access to digital USD can be an incentive for customers when Japanese yen is struggling to keep up with other Fiat currencies worldwide. In recent years, the Japanese government has curtailed the unregulated use of cryptocurrencies, made it friendly to parties complying with the mainstream management market of digital assets, and suppressed small businesses that fall under registered exchange oversight. As mentioned in a previous report, the financial giant also enjoys partnerships with XRP and Ripple.
In their announcement that the USDC would be released, the company highlighted (translated).
USDC is the second largest stubcoin by market capitalization and was first approved in terms of issues in Japan through SBI’s licensing with the Financial Services Agency (FSA), the Asian financial services agency. The company’s announcement states, “We would like to thank the continued sponsorship of the SBI VC transaction as we continue to strive to begin handling USDC as soon as possible.”
