Key Takeaways:
Japan's third-largest convenience store chain will test yen-pegged stablecoin payments at a Tokyo store from August, marking the first point-of-sale integration for digital currency in the country.
Lawson Inc., Japan's third-largest convenience store chain with 14,697 locations and 3.02 trillion yen ($18.68 billion) in net sales for fiscal 2026, will begin accepting payments in yen-denominated stablecoin JPYC at a Tokyo store from early August, the first point-of-sale integrated stablecoin trial in the country.
"This proof-of-concept will verify whether stablecoin payments can function within existing in-store checkout systems," the company said, according to Nikkei. The trial involves telecommunications giant KDDI and crypto wallet provider HashPort.
Customers will display a barcode from a smartphone wallet at checkout. Staff will scan it with the existing POS terminal, and HashPort will update the JPYC balance based on verified transaction data. JPYC, which launched in October 2025 as Japan's first registered yen stablecoin under the 2023 licensing regime, has surpassed 2 billion yen ($12.36 million) in onchain circulation, according to the issuer. It maintains a 1:1 peg to the yen, backed by yen deposits and government bonds, and operates on Avalanche, Ethereum, Polygon and Kaia.
The trial comes as Japan's largest banks — Mitsubishi UFJ, Sumitomo Mitsui and Mizuho — plan to form a consortium to jointly issue yen stablecoins during fiscal 2026, widening competition in the regulated digital payments space. Citigroup estimates the global stablecoin market could expand to between $1.9 trillion and $4 trillion by 2030 from $282 billion in 2025.
KDDI, which formed a capital and business tie-up with HashPort in October 2025 and now holds more than 20 percent of its shares, is operating the trial at its Takanawa Gateway City store in Minato Ward. Lawson will assess system stability, transaction speed and operational fit before deciding on a wider rollout.
The pilot follows smaller JPYC payment tests at two Osaka locations of okonomiyaki restaurant chain Chibo in April and at dental clinics in Tokyo and Chiba. Lawson's trial is the first to link stablecoin payments directly to a convenience store POS system, a distinction the company said could help determine whether the payment infrastructure can scale across retail.
JPYC Inc. backs all issued stablecoins with 100 percent reserves held in yen deposits and government bonds, in compliance with Japan's Payment Services Act. The stablecoin recently joined Metaplanet and Progmat for a joint study on digital credit using bitcoin, stablecoins and security tokens.
Japan's regulatory framework for stablecoins has been evolving since 2023, when local authorities imposed licensing requirements on issuers. The country has also opened regulated access to foreign stablecoins — Ripple and SBI launched the dollar-backed RLUSD through SBI VC Trade in June after approval from the Financial Services Agency. Resona Holdings is also pushing to commercialize stablecoin payments for individuals with JCB and Digital Garage, targeting fiscal 2027 for practical use.
This article is for informational purposes only and does not constitute investment advice.
