The Japanese financial conglomerate SBI Group acquired shares of the American company Circle, issuer Steabelcoin USDC, for $ 50 million. The transaction took place after the completion of the initial placement of Circle on the New York Stock Exchange.

SBI Holdings and its subsidiary SBI Shinsei Bank invested $ 25 million each in the IPO Circle. SBI called investments in these shares by the execution of agreements on creation Circle SBI Japan, whose activities will be focused on promoting USDC stabelcoins in Asia.

Circle SBI Japan intends to promote the integration of USDC into local payments and money transfers, which should strengthen the positions of the Circle Stebblecoins in the Asian region as a direct competitor of Tethor USDT stablecoins.

In the aggregate, SBI Group redeemed about 5% of 34 million Circle shares issued during the primary public placement and acquired approximately 0.7% of the company.

Previously, the SBI Holdings Japanese financial conglomerate and the Saudi oil company Saudi Aramco agreed to co -financing projects in the field of creating digital assets and cryptocurrency infrastructure.