SBI VC Trade Completes First Registration for Stablecoin Trading in Japan and Will Provide USDC Trading Services

According to CoinDesk, the Japanese cryptocurrency financial company SBI VC Trade announced today that it has completed the first registration for stablecoin trading in Japan. After approval, it will start processing USDC transactions on March 12. The company will be able to provide buying and selling services for USDC to individual and corporate customers, as well as deposit and withdrawal services, and will need to hold US dollar collateral equal to or greater than the USDC deposited by customers. SBI Group's new SBI Trust Bank will play a role in trust custody.