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Circle Considers Issuing Stablecoin in Japan Following New Legislation

Payment services company Circle is considering issuing a stablecoin in Japan following the implementation of legislation governing stablecoins on June 1. CEO Jeremy Allaire believes Japan could become an extremely large market for stablecoins if they are more widely used for cross-border trade and global commerce.

Japan's stablecoin bill establishes a framework for the use of overseas stablecoins, making it one of the first countries to do so. Circle is interested in partnerships in Japan and is among a number of financial institutions exploring stablecoin offerings in the country.

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