According to the Nihon Keizai Shimbun, Resona Holdings, which owns banks, JCB, a credit card company, and Digital Garage, a payment platform, will create a system that allows individual consumers to pay with existing yen and dollar stablecoins such as JPYC and USDC.
These companies will start demonstration experiments at some JCB affiliates before March this year and push for practical use after April 2027.
Users pay using their electronic wallets on smartphones or tablet PCs, and stores accept payments through smartphones with dedicated applications.
“JCB and Lisona expect some credit card payments to turn into stablecoins in the future,” Nikkei said, predicting that stablecoins, which have been attracting attention so far as a means of transferring money between companies, will also be utilized as a means of personal consumption.
In Japan, JPYC started issuing yen stablecoins in October last year, and the three largest banks are also pushing for joint issuance.
JENNIFER KIM
US ASIA JOURNAL
