They highlighted that stablecoins bring a wide range of benefits, including “reducing the burden of currency exchange for inbound tourists, further improving the efficiency of fund settlement, and improving cash flow for merchants.”

Tourists in Japan primarily use bank cards for payments, but there are spending limits, which can be bypassed with stablecoins, according to a report by Nikkei.

The collaboration is part of a growing wave of stablecoin initiatives in Japan following regulatory changes that have opened the market to broader adoption. Circle has said it would partner with Nomura to develop a USDC-based foreign exchange settlement service for Japanese businesses as early as 2027.

Lawson, one of Japan’s largest convenience store chains, will accept stablecoins at its stores as part of a pilot that starts in August, according to a separate Nikkei report. The retailer plans to begin trials at its Lawson Takanawa Gateway City store in Tokyo with telecom operator KDDI and digital asset wallet provider Hashport, using KDDI’s yen-denominated stablecoin, JPYC, the report said.