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JCB and Circle explore USDC stablecoin payments for 40 million merchants
The pilot starts with a proof of concept for JCB’s internal fund transfers, aiming to improve payment efficiency and cut remittance costs for cross-border transactions.
CoinDesk reports that Japan’s largest card network, JCB, has signed a memorandum of understanding with Circle to explore using USDC stablecoins for cross-border payments and merchant transactions across Japan.
The companies said the effort will begin with a proof of concept focused on JCB’s internal fund transfers, then expand to ways to support merchant and international visitor payments using USDC.
CoinDesk added that the initiative is intended to improve payment efficiency, reduce remittance costs, and ease currency exchange burdens for tourists, while also exploring in-store stablecoin payments.
The announcement comes as Japan increases efforts to bring stablecoins into everyday commerce, including pilots such as Lawson convenience stores testing yen-denominated stablecoin payments starting in August, according to CoinDesk.