#Japan #Tokyo #USDC #SBI VC Trade #Aplus

SBI VC Trade and Aplus Announce USDC Payment Trial

In an exciting development for the digital payment landscape in Japan, SBI Holding's subsidiary, SBI VC Trade, and Aplus have announced plans to initiate a trial that leverages USDC, a US dollar-backed stablecoin issued by Circle, for in-store payments by Spring 2026. This collaboration aims to innovate cashless payment models by utilizing QR codes, enhancing the user experience for both domestic consumers and inbound visitors.

With Japan's ongoing challenges in adopting stablecoin payments, this partnership seeks to address previous technical hurdles. As Japan's only registered operator for electronic payment methods (registration number: Kanto Finance Bureau No. 00001), SBI VC Trade is positioned to handle USDC transactions in compliance with existing legal frameworks. Meanwhile, Aplus has developed an extensive network of merchants in the QR code payment sector, making this partnership particularly promising.

This initiative directly ties into the broader project of transforming Osaka into an international financial hub, as part of the city's hosting of the EXPO 2025. The goal is to create a seamless payment experience that will enable users holding USDC to conduct transactions easily at participating stores. The trial will allow users to scan QR codes provided by stores to facilitate their payments with USDC stored in private wallets like MetaMask. Following the transaction, SBI VC Trade will convert the USDC received into Japanese yen and transfer the funds to Aplus, which will then deposit the yen into the relevant merchant accounts.

Project Details

The trial will showcase the following process:
1. Users with USDC will scan a QR code provided by the participating merchant to initiate the payment.
2. SBI VC Trade will exchange the USDC value into Japanese yen and send it to Aplus.
3. Aplus will deposit the received yen into the retailer's account.

The findings from this trial are expected to inform strategies for commercializing USDC circulation in Japan, increasing the networks of affiliated stores, and expanding collaborations with related wallets and payment applications. By strengthening the stablecoin payment infrastructure, both companies envisage a significant contribution towards the realization of cashless transactions in retail sectors, particularly in preparation for the influx of international visitors.

Innovating Financial Services

This initiative is a clear manifestation of SBI Group's pursuit of becoming a financial innovator, aligning with its commitment to 'customer-centricity'. SBI VC Trade and Aplus aim to provide enhanced services that are tailored closely to customer needs, setting the stage for future growth and expanding their competitive edge in the rapidly evolving fintech landscape.

SBI VC Trade, with its strong emphasis on secure cryptocurrency transactions, and Aplus, with its comprehensive payment solutions and extensive merchant reach, combine their strengths to offer innovative and practical financial services. By focusing on customer demand and employing cutting-edge technologies, they continue to set the standard for effective and reliable payment solutions in Japan.

About SBI VC Trade

SBI VC Trade operates under the slogan 'Cryptocurrency is also SBI', utilizing the full strength of the SBI Group’s comprehensive financial services. The company provides a full lineup of services in cryptocurrency trading while maintaining a high security standard. Through consistent innovation and adherence to customer-centric principles, SBI VC Trade strives to introduce new services that cater to the rising demand for cryptocurrencies and digital transaction methods. More details can be found on their official website or their X (formerly Twitter) account.

About Aplus

Aplus is a key subsidiary of SBI Shinsei Bank Group, specializing in consumer finance, card services, shopping credits, and payment solutions. Aiming to further growth as a customer-demand-driven organization, Aplus maintains its commitment to customer-centric policies as a member of the SBI Group. For more information, please visit Aplus’s official website or their payment collection service site here.

This collaborative initiative could mark a significant shift in Japan's retail payment systems, positioning both SBI VC Trade and Aplus as pioneers in the growing market of stablecoin transactions.