SBI Holdings Group and Circle established a joint venture to accelerate the adoption of USDC and develop Web3 in Japan.
SBI Holdings Inc. announced on August 22, 2025, the establishment of a strategic joint venture with Circle Internet Holdings Inc., marking a significant step in the 'stablecoin revolution' in Japan. This collaboration aims to promote the use of USDC and create new applications in the fields of Web3 and digital finance nationwide.
The joint venture has a close connection with SBI VC Trade Co. Ltd., a consolidated subsidiary of SBI Holdings. Notably, SBI VC Trade has become the first company in Japan to register as an Electronic Payment Instrument Service Provider earlier this year and continues to deploy USDC trading services, creating a historic milestone in the field of digital finance.
In parallel with this progress, SBI has strengthened its partnership through a $50 million equity investment in Circle after the company listed on the New York Stock Exchange. This investment move reflects SBI's long-term commitment to the future of stablecoins in the Japanese market.
Collaboration platform and development orientation
The current collaboration builds upon a Memorandum of Understanding signed in November 2023 with Circle Internet Financial LLC, focusing on expanding the circulation of USDC, developing banking relationships, and introducing Web3 services in Japan. The official joint venture agreement was signed in March 2025, laying the foundation for the launch of the collaboration this week.
SBI emphasizes the importance of combining strengths: 'By leveraging the financial infrastructure of the SBI Group and Circle's expertise, both parties will contribute to developing the digital financial ecosystem in Japan.'
Since its establishment in 1999, SBI has evolved into a multi-industry group operating in securities, banking, insurance, asset management, digital assets, and biotechnology. The group currently positions itself as a key driver for the application of blockchain technology in Japan.
Although there are still questions regarding the legal framework for stablecoins, experts believe that collaborations like this can help reduce transaction costs, expand financial accessibility, and accelerate the modernization of Japan's financial system, laying the groundwork for robust growth in the digital finance sector in the future.
