Lawson Pilots Yen-Linked Stablecoin Payments at Tokyo Store

Japan's Lawson convenience store chain has announced a pilot program to allow customers to pay with the yen-linked stablecoin JPYC. The trial, set to begin in early August at a Tokyo store, marks another step towards broader adoption of crypto payments in Japan.

KDDI, Japan's second-largest telecom carrier, and HashPort, a crypto wallet company that supports JPYC transactions, are participating in the pilot program as partners. Lawson operates 14,697 stores nationwide, making it Japan's third-largest convenience store chain after 7-Eleven and FamilyMart.

JPYC is pegged one-to-one with the yen and operates on multiple blockchains, including Avalanche, Ethereum, Polygon, and Kaia. The token has seen its on-chain circulation surpass 2 billion yen as it expands its presence in Japan's crypto market.