SBI VC Trade, a leading cryptocurrency exchange in Japan, has announced its plans to launch USDC stablecoin transactions for selected users on March 12. This move comes after the exchange’s recent registration with the Financial Services Agency (FSA) of Japan, making it the first cryptocurrency exchange to be registered under the revised Payment Services Act.

The registration process, which began in September 2020, involved a thorough review of SBI VC Trade’s business operations, security measures, and compliance with anti-money laundering regulations. With the FSA’s approval, the exchange can now offer a wider range of services to its users, including the trading of USDC stablecoin.

USDC, or USD Coin, is a stablecoin pegged to the US dollar, providing users with a stable and secure way to store and transfer funds. It is backed by a reserve of US dollars, making it less volatile compared to other cryptocurrencies. This stability makes it an attractive option for traders and investors looking to minimize their risk exposure.

SBI VC Trade’s decision to offer USDC transactions is a strategic move to cater to the growing demand for stablecoins in the Japanese market. With the FSA’s approval, the exchange aims to provide its users with a reliable and regulated platform to trade and store their digital assets.

In addition to USDC, SBI VC Trade also plans to expand its services to include other cryptocurrencies, such as Bitcoin and Ethereum, in the near future. This move is in line with the exchange’s goal to become a one-stop-shop for all cryptocurrency trading needs in Japan.

The launch of USDC transactions on SBI VC Trade is a significant milestone for the exchange and the Japanese cryptocurrency market as a whole. It not only showcases the exchange’s commitment to compliance and security but also paves the way for the wider adoption of stablecoins in the country. As the cryptocurrency industry continues to evolve, SBI VC Trade is well-positioned to lead the way in providing innovative and regulated services to its users.