JCB, Japan’s largest card network, said on July 14 it signed a memorandum of understanding with Circle, a US-based stablecoin issuer, to explore the use of stablecoins for cross-border payments and merchant transactions.

The partnership will begin with a proof of concept for JCB’s internal fund transfers.

The companies will also study the use of USDC for cross-border treasury operations, lower-cost remittances, and in-store payments for merchants serving foreign visitors.

JCB said it has more than 175 million cardmembers and 71 million merchants worldwide.

The deal comes as Japan expands its stablecoin framework following 2023 amendments to the Payment Services Act, which introduced electronic payment instruments.

Merchant payments using stablecoins would still require compliant issuers, such as banks, fund transfer service providers, or trust banks, as well as registered intermediaries supervised by Japan’s Financial Services Agency.

Circle’s separate partnership with Nomura also points to growing interest in stablecoin-based settlement in Japan, with a related service previously outlined for launch as early as 2027.

🔗 Source: CoinDesk