TLDR
- SBI Holdings and SBI Shinsei Bank have jointly invested $50 million in Circle following its successful IPO.
- Each company contributed $25 million as part of their growing partnership with Circle to promote USDC in Japan.
- Circle’s IPO launched on June 5 and closed at $83.23 per share with a market cap of approximately $16.7 billion.
- The IPO was one of the most successful fintech public offerings since 2021 and was reportedly 25 times oversubscribed.
- Circle and SBI formed a joint venture in March 2025 to accelerate the adoption of USDC in the Japanese financial market.
SBI Holdings and its affiliate SBI Shinsei Bank have jointly invested $50 million in Circle following the firm’s IPO. Each entity contributed $25 million to the total, signaling growing interest in the stablecoin market. This move strengthens the alliance between SBI Holdings and Circle, which aims to expand USDC circulation in Japan.
Circle’s IPO took place on June 5 under the ticker symbol “CRCL,” exceeding initial market expectations. The offering launched with 34 million shares priced at $31 each, above the revised $27–$28 range. Shares opened at $69 and closed at $83.23, pushing Circle’s market capitalization to approximately $16.7 billion.
The IPO raised between $1.05 billion and $1.1 billion, making it one of the most successful fintech public offerings since 2021. Demand for shares was exceptionally high, with reports showing the IPO was oversubscribed by 25 times. As a result, the SBI Holdings investment arrived at a time of substantial market momentum for Circle.
SBI Holdings Pushes USDC Adoption Strategy
The $50 million investment follows the March 2025 launch of Circle SBI Japan KK, a joint venture targeting USDC adoption. The initiative aims to increase stablecoin circulation and infrastructure in the Japanese financial ecosystem. SBI Holdings continues aligning with Circle to advance its digital asset strategy.
Earlier this year, SBI VC Trade became the first platform in Japan to list USDC publicly, reinforcing SBI’s early mover position. The collaboration extends Circle’s reach in Asia while enhancing SBI’s digital asset offerings. This comes after both firms signed a foundational business agreement in November 2023.
By entering the market together, Circle and SBI Group enhance regulatory readiness and adoption of regulated stablecoins in Japan. This joint action underscores a broader plan to integrate blockchain-based payments into the traditional banking framework. It also reflects the growing relevance of USDC in global finance.
Ripple, SBI, and the Shift in Digital Finance Focus
SBI Holdings continues its strategic crypto expansion, having long partnered with Ripple through the SBI Ripple Asia joint venture. The Japanese conglomerate currently holds about 9% of Ripple’s shares, maintaining a strong foothold in blockchain development. In previous years, SBI has also backed projects like R3 and Securitize.
Ripple reportedly explored a $4–$5 billion acquisition of Circle before its IPO, but the offer was declined. Speculation around a potential $20 billion bid has subsided, especially after Circle’s IPO valuation surged. Ripple’s CEO, Brad Garlinghouse, denied any increased offer and is putting acquisition talks to rest for now.
SBI Holdings’ current strategy shows a clear pivot toward broader digital finance ecosystems beyond XRP. While its alliance with Ripple remains intact, new partnerships reflect an evolving focus.
