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The SBI Group has announced a significant investment in Circle, with its subsidiaries SBI Holdings and SBI Shinsei Bank each contributing $25 million, totaling $50 million.
Circle Stock ‘Too Hot’ for Some Investors
The SBI Group announced it has secured one of the largest allocations of Circle shares, with two of its subsidiaries investing a total of $50 million in the recently listed fintech giant. According to a statement, subsidiaries SBI Holdings and SBI Shinsei Bank each invested $25 million, signaling the group’s belief in the digital asset industry’s future.
The Japanese conglomerate’s announcement comes days after the stablecoin issuer made a record-breaking debut. From its IPO price, which had been upsized to $31, Circle’s stock surged to more than $100 within 48 hours of listing on the New York Stock Exchange. The stock’s rally continued for a third straight trading day, peaking at just over $131 on June 9 before closing at just under $118.
Many experts believe the stock’s phenomenal surge indicates growing institutional interest in stablecoins and companies supporting the stablecoin industry. However, some, including investor Jim Cramer, believe the surge has swelled Circle’s valuation dramatically from $5.5 billion to around $25 billion, making it hard to justify buying shares at the current price. While acknowledging Circle as a “solid company” with a transparent stablecoin business (USDC), Cramer believes the stock has become “too hot” and “too expensive” at its current levels.
Despite Cramer’s caution, the SBI Group stated it is optimistic about the stablecoin business and Circle’s prospects as a regulated entity. According to the group, this recognition is partly why it has been “actively promoting a partnership with Circle in anticipation of regulatory easing in Japan.”
In late 2023, SBI Group signed a comprehensive business alliance with Circle to promote the circulation of USDC and create new use cases in Japan. In March 2025, SBI VC Trade became Japan’s first crypto exchange to offer USDC to the public. To further boost USDC adoption in Japan, SBI Holdings and Circle established a joint venture, Circle SBI Japan KK.
“Following the strategic investment in Circle, SBI Holdings — together with SBI Shinsei Bank — will explore further collaboration with Circle to accelerate joint initiatives and build a platform that broadly integrates USDC into Japan’s existing financial ecosystem,” the group said in its update.