Circle's Role in the Growth of the Stablecoin Sector: Business Expansion and Prospects in the Japanese Market - An Interview with Kenta Sakakibara, Country Manager for Circle Japan

━━Circle has achieved its long-awaited IPO. Could you tell us about the significance of this IPO and its impact on Circle?

Kenta Sakakibara (hereafter, Sakakibara): The realization of the IPO was a significant milestone for our company. By going public, we were able to demonstrate anew our commitment to transparency, reliability, and long-term responsibility.

The IPO necessitates a higher level of transparency and accountability, which in turn strengthens the trust we receive from regulators, partner companies, and our users. Our business has always prioritized reliability and transparency, and the IPO was highly synergistic with our philosophy.

Furthermore, this IPO was the first instance of a stablecoin operator going public in the United States, which underscores the magnitude of our responsibility. For stablecoins to become a trusted financial infrastructure, having a robust organization equipped with reliability and transparency is essential. The IPO was a critical and indispensable step towards achieving this.

This listing not only has global significance but also holds great importance in Japan.

It demonstrates the level of reliability, transparency, and long-term stability that Japanese partners and financial institutions demand, adding significant value to our IPO.

━━The global environment surrounding stablecoins is changing. What are your thoughts on the future of stablecoins?

Sakakibara: I believe the future of stablecoins is very bright. There are several reasons for this, but primarily, stablecoins that are transparent and regulated play a crucial role in supporting the transfer of diverse values on the internet.

We are still in the phase of establishing this foundation, and it feels like it's just the beginning. This can be likened to the development of the internet in the 1990s. The internet started with niche applications but eventually expanded into global e-commerce and essential life infrastructure.

Similarly, stablecoins started in niche areas and are now at a turning point, moving towards broader societal utilization.

━━What are the areas of application for stablecoins that Circle is currently focusing on?

Sakakibara: We are particularly focused on immediate-use cases in the financial sector. Specifically, global international remittances, treasury operations of large corporations managed with USDC, and their use in capital markets.

In capital markets, where transparency and efficiency are crucial, stablecoins have a high potential for use in settlement and transaction processes.

As for new areas, the connection with 'Tokenized Assets' is significant. Stablecoins play a crucial role as a settlement currency backing tokenized assets, which will become a major global trend.

Looking at the Japanese market, the evolution of digital wallets, QR code payments, and super apps is expanding the potential for commerce. For example, the affinity between the point economy and stablecoins is very high, and we see a trend developing from points to stablecoins, and then to cryptocurrencies. Therefore, this represents a significant use case for Japan as well.