#Japan #Tokyo #USDC #BIPROGY #Bastion

A New Era for International Payments: BIPROGY's Stablecoin POC

In a groundbreaking step towards modernizing international fund transfers, BIPROGY has initiated a proof of concept (PoC) utilizing the stablecoin USDC for cross-border transactions aimed at their subsidiary, BIPROGY USA, Inc. This initiative marks a significant shift in how businesses can leverage digital currencies to enhance their operational efficiency in overseas payments.

Objective of the Project

The PoC will analyze the practical implications of using stablecoins in real-world payment scenarios, moving beyond mere simulations to actual transactions. The primary focus lies in evaluating the entire process: conversion to USDC, sending and receiving funds, and managing accounting post-transaction. By employing this hands-on approach, BIPROGY intends to gather insights that differentiate stablecoin transactions from traditional banking methods and identify potential operational challenges.

Background on Stablecoins

Stablecoins, such as USDC, offer numerous benefits in cross-border payments, including faster transaction times, reduced transfer costs, continuous 24/7 payment capabilities, and enhanced visibility of transaction histories. However, in Japan, many financial institutions and businesses face barriers to adopting stablecoins, primarily due to concerns over accounting, tax compliance, treasury management, internal controls, and audit trails. To overcome these hurdles, BIPROGY has committed to utilizing the technology as both a test subject and a participant in real transactions, thereby uncovering necessary insights for eventual implementation.

Outline of the Proof of Concept

The proof of concept is segmented into three distinct phases aimed at systematically validating the operational aspects of utilizing stablecoins for payments:

Phase 1: Initial Transactions

In this phase, BIPROGY will conduct its first payment from its wallet to the BIPROGY USA, Inc. wallet using USDC. As of the end of Q3 2026, the starting balance will be zero.

Phase 2: Maintained USDC Balance

This phase anticipates executing another USDC transaction while maintaining a balance at the end of the period. Focus will be on managing funds and associated accounting practices effectively.

Phase 3: Beyond Internal Transactions

Future considerations involve exploring inter-group transfers and other related transactions.

Evaluation Metrics for the PoC

BIPROGY will closely verify several aspects during the POC:

• - Treasury Management and Settlement Practices (Phase 1): This involves verifying internal workflows from payment instructions to fund management, including obtaining the USDC, executing transfers, confirming receipts, and retaining transaction records.
• - Accounting, Auditing, and Legal Compliance (Phase 2 Onwards): The focus will expand to cover how accounting and taxation are managed, information needed for audits, maintenance of internal controls, legal compliance, and necessary regulatory considerations.

Expected Outcomes

With this initiative, BIPROGY aims to demystify the anxieties surrounding stablecoin adoption for financial institutions and businesses:
1. Clear Guidelines Based on Real Usage: By elucidating methods to handle concerns like accounting processing, treasury management, compliance, and audit processes, businesses will gain a clearer picture of how stablecoins can be successfully integrated.
2. Comparative Effectiveness Analysis: Evaluating metrics such as transfer times, costs, confirmation processes, and transaction visibility will establish a framework for assessing the practicality of stablecoins in corporate and inter-group transactions.

Future Directions

Looking ahead, BIPROGY will leverage the insights gathered through the proof of concept to offer structured guidance to financial entities and businesses, facilitating easier integration of stablecoins into their operations. The company remains committed to the broader implementation of stablecoins and the development of innovative payment infrastructure.

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About Bastion

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Bastion provides essential technology and operations for enterprises looking to implement stablecoin solutions. With a trust charter from New York and conditional approval for a federal charter, they ensure compliant and safe transactions for businesses navigating the digital currency landscape.

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By establishing this direct link between stablecoin and business operations, BIPROGY not only aimed for technological advancement but also made strides towards enhancing the economic landscape of Japan and promoting a sustainable society through collaboration and innovation.