USDC-Issuer Circle Looking to Launch Stablecoin in Japan The firm behind
USDC stablecoin, Circle, is looking
to launch a stablecoin in Japan under new regulations that came i
nto effect last month.
In an interview with
Coindesk Japan, Circle CEO Jeremy Alliare said that J
apan would become an extremely large market for them if stablecoin adoption in cross border trade and global commerce
picks up in the coming time.
Allaire further expressed interest in pursuing
different partnerships in the Asian country. As reported earlier,
Circle is currently looking to expand into Asian market. Japan brought in its latest stablecoin
law into effect last month, making it one of the first countries
to establish a framework for the use of overseas stablecoins. Circle CEO, who
visited Japan in June, opined that J
apan’s stablecoin bill is the most important thing the government and the Financial Services Agency have done.
Allaire thinks that the new stablecoin regulations
in Japan that have just come into force are a crucial first step as they provide
a better framework for governments and stablecoin issuers. Talking about stablecoin’s demand
in Asia, Allaire said that they believe there is already strong demand and use cases for stablecoins in certain Asian markets.
He added:
“Financial centers like Hong Kong and Singapore are already big markets for dollar-backed stablecoins and we have clients in these regions.”
