Stablecoins
How Japan treats stablecoins.
Payment Services Act amendment effective June 2026. Electronic Payment Instruments framework opened a path for qualifying foreign stablecoins for the first time.
What each regime asks for
Requirements.
Japan EPISP
FSA
JPY 10,000,000
Stated capital, and net assets not below zero.
Decision6 to 12 months
Reserve ruleRedeemable at face value on demand. Issuance limited to banks, trust companies and licensed fund transfer providers.
Foreign firmsJapanese company, or a Japan office with a Japan-resident representative. Applications in Japanese.
What's due
Dates in Japan.
23 Jul 2027
Act No. 64 of 2026, outer limit for the Cabinet to bring the FIEA transfer into force
The Act moves regulated crypto-asset trading from the Payment Services Act to the Financial Instruments and Exchange Act. Promulgated 23 July 2026, the Cabinet must set an enforcement date within one year, making 23 July 2027 the hard outer limit. Existing registrants then have six months to file for FIEA registration.
Licences
Who holds what in Japan.
Every row links to the regulator's own entry.
| Company | Regulator | Licensed for | Granted | Source |
|---|---|---|---|---|
| BACKEAST Crypto Asset Exchange Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 16 Apr 2022 | register ↗ |
| BTC Box Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| Binance Japan K.K. | FSA-JP | Crypto-Asset Exchange Service Provider | 14 Oct 2022 | register ↗ |
| Bitbank, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| Bittrade Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| Coinbase Japan K.K. | FSA-JP | Crypto-Asset Exchange Service Provider | 18 Jun 2022 | register ↗ |
| Coincheck, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 11 Nov 2019 | register ↗ |
| CryptoGarage, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Jun 2022 | register ↗ |
| Custodiem Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| Digital Asset Markets Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 17 Dec 2021 | register ↗ |
| GMO Coin, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| Gaia Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 18 Jun 2021 | register ↗ |
| Gate.Japan Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 17 Oct 2019 | register ↗ |
| HashKey Japan Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 18 Jun 2022 | register ↗ |
| Mercoin, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 17 Jun 2022 | register ↗ |
| Mercury Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 17 Dec 2021 | register ↗ |
| Money Partners Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| OKCoin Japan Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 30 Mar 2020 | register ↗ |
| OSL Japan Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 23 Sep 2021 | register ↗ |
| Rakuten Wallet, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 25 Mar 2019 | register ↗ |
| SBI VC Trade Co., Ltd. stablecoin | FSA-JP | Electronic Payment Instrument Exchange Service Provider | 04 Mar 2025 | register ↗ |
| SBL.OX Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 25 Mar 2019 | register ↗ |
| Zaif Co., Ltd. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |
| bitFlyer, Inc. | FSA-JP | Crypto-Asset Exchange Service Provider | 29 Sep 2017 | register ↗ |