{"id":16335,"date":"2025-03-05T17:02:53","date_gmt":"2025-03-05T17:02:53","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=16335"},"modified":"2025-03-05T17:02:53","modified_gmt":"2025-03-05T17:02:53","slug":"usdc-booms-as-circle-gets-approval-to-operate-in-japan-and-uae","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=16335","title":{"rendered":"USDC Booms As Circle Gets Approval To Operate In Japan And UAE"},"content":{"rendered":"<div>\n<p>Circle will soon be able to offer USDC to investors in Japan. Jeremy Allaire, CEO at Circle, announced on 4 March 2025, that USDC is now \u201cthe first and only global dollar stablecoin to become approved for use in Japan.\u201d<\/p>\n<p>The company will partner with SBI, the sole exchange permitted to offer USDC to Japanese investors. The SBI reportedly <a href=\"https:\/\/www.sbivc.co.jp\/newsview\/9ne-b0_5yo\" target=\"_blank\" rel=\"nofollow\">plans<\/a> to open USDC trading to limited users on 12 March 2025.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">USDC becomes the first and only global dollar stablecoin to become approved for use in Japan!<\/p>\n<p>Congrats to SBI for being the first to be permitted to list and distribute USDC. <\/p>\n<p>And much more to come from Circle in Japan soon. <a href=\"https:\/\/t.co\/nO732URA7R\" target=\"_blank\" rel=\"nofollow\">https:\/\/t.co\/nO732URA7R<\/a><\/p>\n<p>\u2014 Jeremy Allaire \u2013 jda.eth \/ jdallaire.sol (@jerallaire) <a href=\"https:\/\/twitter.com\/jerallaire\/status\/1896873550675591209?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">March 4, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>In June 2022, the country recognized tokens as digital currencies, requiring stablecoins to be linked to the yen and redeemable at face value as per the 2023 bill. Licensed banks, money transfer agents, and trust companies may issue approved stablecoins per regulations to be introduced in the coming months.<\/p>\n<p>Japan\u2019s approval of USDC comes in mere weeks after Coinbase CEO Brian Armstrong stated that he considers catching up to Tether\u2019s USDT as their stretch goal.<\/p>\n<p>Notably, Coinbase and Circle co-founded the Centre Consortium in 2018 to manage USDC issuance. Coinbase acquired a minority stake in Circle, which dissolved the Centre Consortium.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/cryptocurrency\/crypto-presales\/\" rel=\"\">12 Best Crypto Presales to Invest in March 2025 \u2013 Top Token Presale<\/a><\/p>\n<h2><strong>Recognition Of USDC, EURC Stablecoins To Moonshot Dubai\u2019s Crypto Growth<\/strong><\/h2>\n<p>Japan\u2019s approval comes just weeks after the company announced that the Dubai Financial Services Authority (DFSA) officially recognized their USDC and EURC as official tokens, making them the first stablecoins approved by the regulatory authority.<\/p>\n<p>With the two stablecoins approved, both USDC and EURC can now be incorporated by 6000 plus companies at the Dubai International Financial Centre (DIFC) into a range of applications, including payments, treasury management and services.<\/p>\n<p>During the <a href=\"https:\/\/www.circle.com\/pressroom\/usdc-and-eurc-become-first-stablecoins-recognized-by-dubai-international-financial-centre\" target=\"_blank\" rel=\"nofollow\">announcement<\/a> made on 24 February 2025, Dante Disparte, the Chief Strategy Officer and Head of Global Policy and Operations at Circle said, \u201cThe DFSA\u2019s approval of USDC and EURC as recognized crypto tokens within the DIFC is yet another validation of our constructive approach to regulatory and policy engagement.\u201d<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">USDC &amp; EURC are the first stablecoins recognized by the Dubai Financial Services Authority (DFSA)!<\/p>\n<p>This reinforces Circle\u2019s position as the only major global stablecoin issuer compliant with European Union (MiCA) regulations and Canada\u2019s new listing rules.<\/p>\n<p>This recognition\u2026 <a href=\"https:\/\/t.co\/QduRbNPpLo\" target=\"_blank\" rel=\"nofollow\">pic.twitter.com\/QduRbNPpLo<\/a><\/p>\n<p>\u2014 Circle (@circle) <a href=\"https:\/\/twitter.com\/circle\/status\/1894010641259925949?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"nofollow\">February 24, 2025<\/a><\/p>\n<\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Sector experts have stated that the approval of Circle\u2019s stablecoins can potentially pose a challenge to Tether\u2019s USDT, which eventually could reshape the $200 billion global stablecoin market.<\/p>\n<p>Disparte stated, \u201cThis milestone aligns with our mission to make digital dollars and euros more accessible, interoperable, and useful for businesses, developers, and financial institutions worldwide.\u201d<\/p>\n<p>From the 8<sup>th<\/sup> to 10<sup>th<\/sup> of February 2025, Circle saw its market capitalization shoot up to <a href=\"https:\/\/99bitcoins.com\/news\/usdc-hits-record-56b-market-cap-a-new-era-for-stablecoins\/\">$56.3 billion<\/a> from $45.6 billion, an increase of 23%. Notably, since December 2023, the stablecoin market cap has increased by nearly $100 billion.<\/p>\n<p>An increased usage of stablecoins is a key narrative of the booming crypto market.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/bitcoin-exchanges\/\" rel=\"\">Best Crypto Exchanges in 2025: Trade Like a Pro With Top Cryptocurrency Exchanges<\/a><\/p>\n<h2><strong>Competition Between Circle And Tether Is Heating Up<\/strong><\/h2>\n<p>While Circle may have these wins, competition with Tether is heating up. Currently, Tether <a href=\"https:\/\/defillama.com\/stablecoins\" target=\"_blank\" rel=\"nofollow\">commands<\/a> around $142 billion in market capitalization, approximately 63% of the global stablecoin market.<\/p>\n<p>In December 2024, authorities in Abu Dhabi recognized USDT as a virtual asset. Also, a partnership with Reelly Tech, a UAE-based real estate platform, is currently integrating USDT within the <a href=\"https:\/\/99bitcoins.com\/news\/tether-cashes-in-on-uaes-real-estate-boom-allows-for-payment-in-usdt\/\">real estate<\/a> sector in the UAE.<\/p>\n<p>Recently, however, the USDT has come under pressure in the European markets, as Coinbase and Crypto.com have had to <a href=\"https:\/\/99bitcoins.com\/news\/tethers-usdt-to-be-delisted-on-crypto-com-nine-other-tokens-at-risk\/\">delist<\/a> the stablecoin as per new MiCA guidelines. Binance, too, will delist the stablecoin by the end of this month.<\/p>\n<p>Key factors such as regulatory pressures on stablecoins and a growing institutional interest in crypto, are driving the push for USDC. Institutional investors prefer stablecoins that follow precise regulatory standards and provide a clear financial backing.<\/p>\n<p>Despite Tether\u2019s dominance, regulators have repeatedly questioned the company regarding its reserves and have filed lawsuits over its alleged misrepresentation.<\/p>\n<p><strong>Explore<\/strong>:\u00a0<a class=\"general-link\" href=\"https:\/\/99bitcoins.com\/news\/paolo-ardoino-says-competitors-want-to-kill-tether-criticizes-new-stablecoin-bill\/\" rel=\"\">Paolo Ardoino Says Competitors Want To \u201cKill Tether,\u201d Criticizes New Stablecoin Bill<\/a><\/p>\n<div class=\"nnbtc-key-takeaways\">\n<h3 class=\"nnbtc-key-takeaways__title\">Key Takeaways<\/h3>\n<ul class=\"nnbtc-key-takeaways__list\">\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Regulatory USDC\u00a0approval in Japan and Dubai boosts Circle\u2019s global stablecoin adoption.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        Competition between USDT and USDC is heating up as USDT faces regulatory hurdles in the EU.    <\/li>\n<li class=\"nnbtc-key-takeaways__list-item\">\n        USDC\u2019s market cap surged 23%, reflecting rising stablecoin adoption worldwide.    <\/li>\n<\/ul><\/div>\n<p>The post <a href=\"https:\/\/99bitcoins.com\/news\/usdc-booms-as-circle-gets-approval-to-operate-in-japan-and-uae\/\">USDC Booms As Circle Gets Approval To Operate In Japan And UAE<\/a> appeared first on <a href=\"https:\/\/99bitcoins.com\/\">99Bitcoins<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Circle will soon be able to offer USDC to investors in Japan. Jeremy Allaire, CEO at Circle, announced on 4 March 2025, that USDC is now \u201cthe first and only global dollar stablecoin to become approved for use in Japan.\u201d The company will partner with SBI, the sole exchange permitted to offer USDC to Japanese [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-16335","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16335","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=16335"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/16335\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=16335"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=16335"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=16335"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}