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06/13 20:50

SBI Group invests $50 million in Circle

SBI Group invests $50 million in Circle

Japanese financial giant SBI Group has significantly backed USDC stablecoin issuer Circle, investing $50 million in the company’s recent initial public offering (IPO) on the New York Stock Exchange.

This significant investment , split equally between SBI Holdings and its subsidiary SBI Shinsei Bank, underscored a strategic move to deepen ties in the rapidly growing digital asset space.

SBI’s commitment follows a broader collaboration in which the two companies launched the first regulated access to USDC in Japan through licensed crypto exchange SBI VC Trade in March.

This initiative, sparked by changes to stablecoin registration requirements in Japan, also includes the creation of a joint venture, Circle SBI KK Japan. Their shared goal is clear: To accelerate the adoption of USDC among Japanese businesses and consumers.

Circle’s IPO, which began on June 4, was a resounding success, raising approximately $1.1 billion from the sale of 34 million shares. Notably, Kathy Wood’s Ark Invest was among the most prominent investors, acquiring 4.48 million shares valued at $373.4 million.

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