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Japan’s largest card network, JCB, partners with Circle to explore USDC stablecoin payments, covering 40 million merchants
BlockBeats message: On July 15, Japan’s largest card network, JCB, signed a memorandum of understanding (MOU) with Circle. Both sides will explore using USDC for cross-border payments, merchant settlement, and funds management, to promote stablecoin adoption in everyday payment scenarios in Japan.
JCB has about 140 million users and 40 million merchants worldwide. In the initial phase, the two parties will focus on a proof of concept (PoC) around internal fund transfers within JCB, and will further study how using USDC can improve cross-border payment efficiency, reduce remittance costs, and support international tourists in using stablecoins to pay at merchants in Japan.
This cooperation is part of Japan’s stablecoin commercialization process. Previously, Circle announced it would partner with Nomura to develop USDC-based FX settlement services; Japanese convenience store chain Lawson also plans to launch a stablecoin payment pilot in August this year.