Japan’s biggest card network taps Circle to bring stablecoins to 40 million merchants
Japanese card network JCB and stablecoin issuer Circle have partnered to explore the integration of USDC into Japan's payment ecosystem. The collaboration aims to improve cross-border treasury operations and enable in-store stablecoin payments for international tourists.
Why it matters
This partnership signals a major shift in Japan's financial landscape, as it seeks to modernize its payment infrastructure and leverage blockchain technology to facilitate easier transactions for global visitors.
The two firms have signed a memorandum of understanding (MOU) to explore stablecoin payments for merchants serving international visitors, as Japan’s payment industry accelerates efforts to introduce blockchain payments into everyday use across the country.
JCB, which has 140 million users and 40 million merchants worldwide, and Circle will explore how stablecoins can enhance cross-border treasury operations and payments. Initial efforts will focus on a proof of concept for JCB's internal fund transfers. They will also explore ways to improve payment efficiency, reduce remittance costs and support broader cross-border payments using USDC, the world’s second-largest with a market capitalization of nearly $73 billion .
The companies will also explore in-store stablecoin payments for merchants and international visitors to Japan.
“Stablecoins are gaining attention around the world as a foundation for creating a new ecosystem in cashless societies, given their high level of convenience,” the statement noted.
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