Circle, the issuer of USD Coin (USDC), has entered into a memorandum of understanding (MOU) with SBI Holdings, aiming to enhance the adoption of USDC and Web3 services in Japan. The move follows the Japanese government's regulatory measures for stablecoins and aligns with the push toward a Web3 economy.
SBI Holdings Pursues Electronic Payment Instruments Registration
As part of the collaboration, SBI Holdings is seeking registration as an electronic payment instruments service provider, a crucial step subject to approval by Japanese authorities. This initiative is seen as a significant move toward fostering mass adoption of stablecoins in Japan.
Circle's Full-Stack Web3 Services in Focus
Beyond USDC adoption, Circle and SBI plan to work together to promote the adoption of Circle's comprehensive Web3 Services suite. The suite facilitates end-to-end development, deployment, and operations of Web3 apps across various blockchains, emphasizing applications in games, culture, and consumer entertainment.
