TOKYO -- Japanese financial services group SBI Holdings is investing around $50 million in Circle Internet Group, issuer of the dollar-backed USDC stablecoin, in hopes of helping the virtual currency find a wider audience in Japan.
On Friday U.S. time, SBI will buy about 5% of the 34 million shares Circle issued in an initial public offering, acquiring a roughly 0.7% overall stake in the company. Circle shares debut on the New York Stock Exchange on Thursday.
