Key facts
- Lawson will test yen-denominated stablecoin payments at a Tokyo store in August.
- HashPort, Lawson, and KDDI are collaborating on the stablecoin payment trial.
- Netstars has launched a merchant service, Stablecoin Pay, supporting USDC, USDT, and JPYC.
- Japan's regulatory framework for stablecoins took effect in June 2023.
- The trials aim to integrate stablecoin payments into existing retail infrastructure.
Japanese convenience-store operator Lawson is set to test yen-denominated stablecoin payments at a Tokyo location in August, examining the integration of digital assets into standard retail checkout processes. The trial, conducted in partnership with blockchain company HashPort and telecom group KDDI at the Lawson Takanawa Gateway City store, will utilize HashPort's non-custodial wallet and point-of-sale system.
The initiative aims to assess the feasibility of stablecoin payments within Japan's retail infrastructure while minimizing operational complexities for merchants. Key areas of evaluation include integration requirements, checkout efficiency, processing times, and wallet usability.
In parallel, Japanese payments company Netstars has launched Stablecoin Pay, a new service enabling merchants to accept multiple stablecoins. This service initially supports USDC, USDT, and the yen-denominated JPYC across the Solana and Polygon networks, with MetaMask as the supported wallet. Netstars has set a merchant payment fee of 0.98% and plans to expand its offerings with additional wallets and blockchains.
These developments follow Japan's introduction of a dedicated regulatory framework for stablecoins in June 2023, which established categories for fiat-linked stablecoins and required intermediaries to register with the Financial Services Agency. Regulatory approvals for USDC distribution and JPYC's registration as a fund transfer service provider have further paved the way for consumer-facing stablecoin products.