Coincheck Becomes Japan’s Second Registered Stablecoin Operator, to Expand USDC Services
Summary
- Coincheck said it had become the second company in Japan to complete stablecoin operator approval and registration for electronic payment instruments transaction services.
- The registration gives Coincheck a legal basis to pursue stablecoin-related services in Japan.
- Coincheck said it plans to expand the use of Circle’s USDC in Japan and gradually roll out on-chain financial services.
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Japanese crypto exchange Coincheck has become the second company in Japan to complete registration as a stablecoin operator.
Coincheck announced on Aug. 27 that it had completed registration for electronic payment instruments transaction services in Japan, according to BlockBeats and other local media. The company is the second in Japan to obtain the registration.
Electronic payment instruments transaction services registration is required under Japanese regulations for businesses that broker or manage stablecoins. The registration gives Coincheck a legal basis to roll out stablecoin-related services in Japan.
Coincheck plans to expand the use of Circle’s USDC in Japan through its partnership with the stablecoin issuer. The company also plans to gradually introduce a range of on-chain financial services, in addition to stablecoin-based remittances and payments.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul