Circle Internet Group, Inc.Circle's USDC stablecoin is central to the collaboration, potentially expanding its use in cross-border transfers and domestic payments in Japan.

JCB announced on July 14 that it has signed a memorandum of understanding with an affiliate of US-based Circle Internet Group, the issuer of the US dollar stablecoin USDC, to explore collaboration on stablecoin utilization. The main areas of consideration are cross-border fund transfers using USDC and stablecoin payments at domestic merchants in Japan. For international fund transfers, an initial proof-of-concept targeting JCB's internal fund transfers will be examined. Domestically, the companies will explore stablecoin payment methods with an eye toward in-store payments by foreign visitors to Japan, and will also study technologies supporting interoperability across multiple blockchains and a seamless payment experience. In January, JCB began collaborating with Digital Garage and Resona Holdings on stablecoin payments at domestic merchants, and in February, together with Minawallet, it conducted a payment trial using USDC and the yen-denominated stablecoin JPYC at stores in Shibuya Ward.
Circle Internet Group, Inc.Circle's USDC stablecoin is central to the collaboration, potentially expanding its use in cross-border transfers and domestic payments in Japan.
JCB is exploring stablecoin payment methods and blockchain interoperability, which could enhance its payment services.