Japanese banking leaders SBI Holdings and SBI Shinsei Bank said they had agreed on joint investments of $50 million in Circle. They each put in $25 million after Circle listed on June 5 on the New York Stock Exchange. Circle, based in New York and led by CEO Jeremy Allaire, issues USDC, a leading U.S. dollar stablecoin.
Circle’s initial public offering caused significant ripples in global markets as shares closed on day one at $83. Its price more than doubled from its listing price of $31, reaching a day-high of $69 before the day ended. The most valuable fintech listing since Coinbase listed in 2021, it attracted significant attention from institutional
SBI Holdings and SBI Shinsei Bank have long recognized the growing importance of digital assets in global finance. Their recent action is based on previous investments, such as their holding of nine percent in Ripple Labs in 2016. In the same year, SBI collaborated with Ripple Labs and created SBI Ripple Asia for blockchain-enabled remittance services.
SBI VC trade introduced USDC’s first
They invested in R3, the developers of the Corda blockchain banking platform, in 2017. SBI R3 Japan opened in 2019 with the aim of spreading the licensing and implementation of Corda further throughout the region. They also invested in Securitize in the year 2019, aiding digital securities on blockchain platforms
With Circle, SBI hopes to encourage the usage of the USDC in Japan with expectations of regulatory framework adjustments that can facilitate this adoption. Circle is a global technology finance hardware and software systems company that develops secure and transparent digital financial systems.
SBI VC Trade, a cryptocurrency exchange that is owned by SBI Holdings, first introduced USDC directly to users in March of 2025. Circle and SBI later established formally a joint venture, Circle SBI Japan KK, intending to expand the circulation of USDC.
This investment and new alliance reflect SBI’s vision of deeper integration of USDC into Japan’s financial system. The group is further expanding its international network of digital finance through close collaboration with leading blockchain and fintech companies.
