Japan's SBI Holdings invests $50 million in Circle

In a lucrative initial public offering (IPO) on the New York Stock Exchange on Thursday and Friday, Circle Internet Group stock soared, with the stablecoin issuer seeing a sizable investment from Japan’s financial services giant, SBI Holdings. Tokyo-based mega-business SBI Holdings has reportedly invested $50 million in Circle Internet Group’s stock, via its launch Thursday on the New York Stock Exchange. SBI and Circle already enjoy an active partnership , and the Japanese financial services company is looking to expand the use of Circle’s dollar-pegged stablecoin, USDC. The stablecoin launched on the SBI VC Trade platform in March. CRCL shares surged after their IPO launch on the NYSE Thursday. Chart: Trading View. Bullish on the future of the stablecoin, SBI previously stated : “Through the handling of USDC, we will provide customers with access to digital US dollars and promote efficient and cost-effective electronic payment methods in line with the development of the digital economy.”Shares of CRCL more than doubled across June 5 and 6, with trading starting at around $60/share and tapping $120 on Friday. SBI’s grab is said to consist of about 5% of the 34,000,000 Class A common stock shares offered up.SBI is also notably involved with XRP and Ripple, the extremely popular market-cap leading digital currency, and its issuer, and has backed Solana NFT (non-fungible token) initiatives in Japan. Cryptopolitan Academy: Coming Soon - A New Way to Earn Passive Income with DeFi in 2025. Learn More