Japanese financial heavyweight SBI Group has significantly backed stablecoin issuer Circle, injecting $50 million into the company's recent upsized initial public offering (IPO) on the New York Stock Exchange.
This substantial investment, split equally between SBI Holdings and its subsidiary SBI Shinsei Bank, underscores a strategic move to deepen ties within the burgeoning digital asset space.
The commitment from SBI follows a broader collaboration that saw the two firms launch Japan’s first regulated access to USDC via the licensed SBI VC Trade crypto exchange in March.
This initiative, spurred by revisions to Japan’s stablecoin registration requirements, also includes the formation of a joint venture, Circle SBI KK Japan. Their shared objective is clear: to accelerate the adoption of USDC among Japanese businesses and consumers.
Circle’s IPO, which commenced on June 4th, proved to be a resounding success, raising approximately $1.1 billion from the sale of 34 million shares. Notably, Cathie Wood’s Ark Invest was among the prominent investors, acquiring 4.48 million shares valued at $373.4 million.
The long-awaited creditor repayments from bankrupt crypto exchange FTX have hit a major roadblock, with the FTX Recovery Trust announcing a temporary suspension of payments to users in 49 foreign jurisdictions.
Congress has officially passed President Donald Trump’s landmark economic package, a sweeping bill that combines aggressive tax cuts with deep federal spending reductions.
BlackRock’s spot Bitcoin exchange-traded fund (ETF), known by its ticker IBIT, has surpassed the firm’s flagship S&P 500 ETF in annual revenue, according to a new report from Bloomberg.
Ripple has officially applied for a national bank charter from the U.S. Office of the Comptroller of the Currency (OCC), aiming to establish a new regulatory benchmark for trust in the stablecoin market.