Japan's Lawson to Run the Country's First POS Stablecoin Payment Trial
By conducting the JPYC Stablecoin Trial, Lawson will run the first POS-related Japanese yen-backed token payment system in Japan, where it will be possible for customers to make payments using the JPYC stablecoin.
Source:X Post
Key Highlights
It will launch a JPYC stablecoin payment pilot at a single Tokyo store in early August.
It is a 1:1 yen-backed stablecoin, allowing customers to pay in Japanese yen digitally.
Customers will use a mobile wallet barcode, which store staff will scan using the existing POS terminal.
HashPort will manage the payment processing and update customers' JPYC balances based on verified purchase data.
Lawson says this is Japan's first POS-integrated Japanese yen-backed token Digital settlement trial.
The company will determine whether to scale the program based on the results.
The move is part of a broader trend in Japan where banks and fintech firms are testing the waters for digital transaction solutions based on the yen.
Why It Matters
If the pilot succeeds, it could demonstrate the viability of stablecoins for everyday retail transactions without changing checkout procedures. It could also accelerate the broader acceptance of regulated yen-backed digital currencies throughout Japan’s retail industry.
Risks: Since it is an experiment, the project may encounter technical and operational issues, poor user adoption, and regulatory changes. In addition, there are possible risks for customers if they do not keep their wallets secure. But intends to test the speed, efficiency, and stability of the transaction process before launching it on a larger scale.
Conclusion
The collaboration between Lawson and HashPort is yet another example of how Digital currencies are being integrated into the day-to-day operations of companies. The company is testing the acceptance of payments in JPYC at one of its stores to determine whether digital yen-based coins can be a viable form of payment.
YMYL Disclaimers: This article is purely informational in nature and was written using information that was publicly available at the time. There may be any changes to the pilot program and timelines, and the reader is advised to check the official sources at Lawson and HashPort for any further updates.
Disclaimer: The market is risky, and investment needs to be cautious. This article does not constitute investment advice. Users should consider whether any opinions, views, or conclusions in this article are in line with their specific circumstances. Investment based on this is at their own risk.