Circle to Launch USDC in Japan on March 26, Boosting Asia-Pacific's Digital Currency Market

Circle is set to launch its USDC stablecoin in Japan on March 26, 2024, through a partnership with SBI Holdings. This launch follows regulatory approval from the Japan Financial Services Agency (JFSA) received earlier in March. Circle's CEO, Jeremy Allaire, noted the company spent two years engaging with Japanese regulators to prepare for this launch. According to Circle's 2024 report, the Asia-Pacific region accounts for 29% of global digital currency transaction volume, surpassing Western Europe (22%) and North America (19%). The current market capitalization of USDC is approximately $59.7 billion, according to CoinGecko data.