Strategic Partnership for USDC Expansion
USDCoin (USDC) issuer Circle has signed a memorandum of understanding (MOU) with SBI Holdings to strengthen the adoption of USDC and Web3 services in Japan. The move follows the Japanese government’s regulatory actions on stablecoins and is consistent with its push toward a Web3 economy.
SBI Holdings pursues registration of electronic payment methods
As part of the collaboration, SBI Holdings is seeking to register as an electronic payment instrument service provider, an important step in obtaining approval from Japanese authorities. This plan is seen as an important move to promote mass adoption of stablecoins in Japan.
Circle’s focus is on full-stack Web3 services.
In addition to USDC adoption, Circle and SBI plan to work together to drive adoption of Circle’s comprehensive suite of Web3 services. The suite facilitates end-to-end development, deployment, and operation of Web3 apps across a variety of blockchains, with an emphasis on applications in gaming, culture, and consumer entertainment.