#Japan #Tokyo #MynaWallet #MyNumberCard #SumitomoMitsui

MynaWallet and Sumitomo Mitsui Card Launch Stablecoin Payment Trials

In an exciting development for digital payments in Japan, MynaWallet Inc. and Sumitomo Mitsui Card Company have announced the initiation of a continuous experimental program aimed at implementing stablecoin payments utilizing the My Number Card. Scheduled to begin as part of a collaborative effort, this initiative represents a significant stride towards enhancing the way digital currencies are integrated into daily transactions.

Background: The Need for a Unique Domestic Payment Experience

Japan is witnessing a growing interest in new payment methods, particularly stablecoins that are linked to legal tender. With recent legislative changes, such as the amendment to the Payment Services Act, there is increased anticipation for transaction solutions integrating blockchain technology. However, many users, including the elderly and children, often feel overwhelmed by the necessity of downloading and operating dedicated applications and wallets. Thus, ensuring a user-friendly experience is critical.

MynaWallet has addressed these concerns by developing its services, 'MynaWallet' and 'MynaPay,' which allow users to utilize their My Number Cards as wallets for handling digital assets like stablecoins. By incorporating Public Personal Authentication (JPKI), this service aims to provide both high security and convenience in user verification.

On the other hand, Sumitomo Mitsui Card has been expanding cashless payment infrastructures across Japan through its next-generation payment platform, 'stera.' This platform can accommodate various payment methods, including credit cards, electronic money, and QR codes, facilitating streamlined transaction experiences for both consumers and businesses.

Aim of the Collaborative Program

Together, MynaWallet and Sumitomo Mitsui Card aspire to create an innovative payment experience by integrating secure identification methods with robust transaction platforms. The program aims to pave the way for a unique intersection between public ID verification and stablecoin payments, ensuring that no one is left behind in the evolution of cashless solutions.

Overview of the Experimental Program

This initiative goes beyond a single trial, as MynaWallet and Sumitomo Mitsui Card plan to implement a series of ongoing experiments across multiple locations and use cases. Future trials may include payments at various sporting and entertainment events, commercial facilities, tourist attractions, and public venues. Additionally, they plan to explore themes such as digital local currencies in collaboration with local governments and using stablecoins for administrative processes and utility bill payments. The data collected from these experiments will inform future enhancements to stablecoin payment systems, with an eye toward broader service rollout in Japan.

Initial Pilot: Home Game Event Trial

As part of the first phase of this program, MynaWallet and Sumitomo Mitsui Card will conduct a trial at the upcoming home games of the professional basketball team, Ryukyu Golden Kings, in Fukuoka City on January 23 and 24, 2026. This trial will take place at the Seaside Arena, where various payment processes will be tested.

Location and Payment Method Details

• - Venue: Seaside Arena, Fukuoka City
• - Payment Terminal: Sumitomo Mitsui Card's stera terminal
• - User Verification: Through My Number Card and JPKI
• - Payment Method: Using a Japan yen-linked stablecoin, JPYC, for transactions initiated by tapping the My Number Card at the terminal.

Attendees who register using their My Number Cards will receive JPYC to use at concessions and other points of sale within the arena, completing their transactions through seamless interactions with the stera terminals.

Looking Ahead: Opportunities for Inbound Payment Systems

While this program will initially focus on domestic My Number Card holders, the long-term vision includes enabling international tourists to utilize their stablecoins (like USDC) through the stera terminals, allowing for cashless transactions at various establishments in Japan. This dual approach will cater to both domestic residents and foreign travelers, ultimately laying the groundwork for a next-generation digital payment infrastructure on the stera platform.

About MynaWallet

MynaWallet is dedicated to promoting inclusivity in the digital asset ecosystem. With the mission to create a world where everyone can utilize digital assets without a steep learning curve, the company focuses on accessibility and usability to bring advanced blockchain technologies, such as stablecoins and NFTs, into the hands of users from all walks of life.

Corporate Information:

• - Company Name: MynaWallet Inc.
• - Headquarters: 4th Floor, FINOLAB, 1-6-1 Otemachi, Chiyoda-ku, Tokyo, 100-0004, Japan
• - Established: June 26, 2023
• - CEO: Hiroyuki Tachibana
• - Website: MynaWallet

About Sumitomo Mitsui Card

Established in 1967, Sumitomo Mitsui Card has been at the forefront of the cashless revolution in Japan, consistently adapting to the evolving landscape of payment solutions. With a commitment to resolving the challenges faced by both users and businesses, their goal is to facilitate an accessible cashless society for all.

Corporate Information:

• - Company Name: Sumitomo Mitsui Card Company, Limited
• - Headquarters: 2-2-31 Toyosu, Koto-ku, Tokyo, 135-0061, Japan
• - Established: December 26, 1967
• - CEO: Yukihiko Onishi
• - Website: Sumitomo Mitsui Card