SBI Holdings, one of Japan's largest financial groups, has invested $50 million (approximately 69 billion won) in Circle, a US stablecoin issuer. This investment is seen as a strategic move aligned with Circle's New York Stock Exchange listing, aimed at strengthening its position in the digital asset market and establishing a foundation for entering the Asian market.
According to Cryptopolitan and Nikkei Asia on the 6th (local time), SBI has acquired approximately 5% of the 34 million Class A common shares issued by Circle, securing 0.7% of the total equity. Circle's stock price has shown a sharp increase from its first day of listing on the New York Stock Exchange, rising more than twofold over two days.
Through this investment, SBI plans to build a USDC-based electronic payment infrastructure at its subsidiary 'SBI VC Trade' and increase the utilization of digital dollars. The subsidiary was registered as an electronic payment means exchange by the Japanese financial authorities in March and is currently evaluated as the only operator that can provide stablecoin services in Japan.
SBI has already established a strategic partnership with Circle and has been strengthening cooperation to expand USDC circulation in Japan. This investment is expected to further solidify their relationship and serve as a bridgehead for expanding business across Asia in the future.
However, Japan currently limits the transfer limit of overseas-issued stablecoins to 1 million yen (approximately 6.9 million won) per transaction, constraining large-scale usage. SBI plans to urge authorities to relax related regulations and work on improving legal limitations.
The industry analyzes that SBI's move could be a catalyst for changing Japan's conservative virtual asset policy. Expectations are growing that traditional financial institutions' full-fledged investment in digital assets will have a positive ripple effect on government policies.
