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<p>SBI Holdings, known for its partnership with Ripple, has <a href="https://twitter.com/jerallaire/status/1728984711140159535">announced</a> a new venture with Circle, a key player in the fintech sector.&nbsp;</p>
<p>This initiative aims to introduce Circle's USD Coin (USDC) to the Japanese market in line with Japan's recently revised regulations on stablecoins.</p>
<h2 id="regulatory-clarity-in-japan">Regulatory clarity in Japan</h2>
<p>Japan is leading the way in stablecoin regulation after implementing a law in June to address key concerns about asset backing and stability. This move sets <a href="https://u.today/green-light-for-crypto-japan-officially-allows-start-ups-to-accept-crypto-from-investment-funds">Japan</a> apart as most countries are still developing their approach to stablecoin regulation.&nbsp;</p>
<p>The decision to establish clear guidelines for stablecoins has opened the door for ventures like the SBI-Circle partnership.&nbsp;</p>
<p>SBI Holdings' involvement could be significant, considering its extensive financial network and experience in the crypto sector.&nbsp;</p>
<h2 id="sbi-s-diverse-crypto-portfolio">SBI's diverse crypto portfolio&nbsp;</h2>
<p>SBI Holdings' engagement with Circle is part of a larger picture of the company's involvement in the cryptocurrency space. This includes a substantial collaboration with Ripple focused on blockchain-based payment solutions.</p>
<p>SBI Holdings initially collaborated with <a href="https://u.today/ripple-ceo-garlinghouse-fires-back-at-former-sec-chair">Ripple</a> in early 2016 when they announced the creation of SBI Ripple Asia​. In 2021, SBI Remit launched a service targeting digital wallets in the Philippines, marking its entry into XRP-based remittances.</p>
<p>They also invested $9 million in Clear Markets to create a cryptocurrency derivatives platform for institutional investors. Additionally, <a href="https://u.today/sbi-spotlights-ripples-xrp-powered-odl-solution">SBI</a> launched VCTRADE, a cryptocurrency exchange for Japanese retail investors, and led funding on major cryptocurrency exchanges like bitFlyer and Kraken.</p>

Ripple Partner SBI Holdings Forms Tie-Up With Circle

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