Accepting Payments from Customers in Japan with a Yen Stablecoin

How do customers in Japan pay online?

Card payments are one way to get paid, and each payment has a fee. As one example of published pricing, Stripe's standard rate in Japan is 3.6% per domestic card payment, with an extra 2% when currency conversion is needed^[7]. Rates differ by provider, business type and contract, so treat this as one data point, not a market average.

Card payments also come with merchant screening by the card company or payment provider. A shop that is declined, or does not want to depend on that screening, needs another way to get paid. A yen stablecoin is one such way. It is not a replacement for every payment method, and it works only for buyers who can get the token, as explained below.

We have not verified how Japanese consumers split their spending across payment methods, so this guide does not make general claims about that.

How does Japanese law treat yen stablecoins?

A stablecoin is a digital token designed to hold a steady value, usually tied one-to-one to a legal currency. It moves over a blockchain, a shared record of transactions that is hard to change after the fact.

Japan passed an amendment to its Payment Services Act in June 2022, and it took effect on June 1, 2023^[1]. The amendment created a category called "electronic payment instruments" (Article 2, paragraph 5). Broadly, it covers currency-denominated assets, meaning assets denominated in a legal currency or to be repaid in one, that can be used to pay unspecified persons and can be transferred electronically, among other things^[8]. Materials from Japan's Financial Services Agency describe stablecoins issued at a price tied to a legal currency (for example, 1 coin = 1 yen) and promising redemption at the issue price as falling into this category, while those that try to keep a steady value by algorithm, for example, are regulated as crypto assets or financial instruments^[9]. So a price tied to a currency does not by itself decide the legal category. Legally, electronic payment instruments are a separate category from crypto assets such as Bitcoin^[1][2]. Two rules matter most.

• Issuers are banks, funds transfer service providers and trust companies^[2].
• Buying, selling or exchanging them as a business, brokering such deals, or managing them for others requires registration as an "electronic payment instruments service provider"^[1][2].

Which category a payment service falls under depends on how the service is designed. If you plan to integrate one, check how the provider describes its own legal position. This page is general information, not legal advice.

What is JPYC?

JPYC is a yen stablecoin issued by JPYC Inc. The company was registered as a funds transfer service provider on August 18, 2025 (Director-General of the Kanto Local Finance Bureau, No. 00099)^[3]. It began issuing JPYC as an electronic payment instrument on October 27, 2025, through its platform JPYC EX^[3].

• JPYC is exchangeable with the yen at 1:1, and JPYC Inc. states that reserves of at least 100% of the outstanding amount are held in deposits and government bonds^[3].
• Identity verification on JPYC EX uses only the My Number card's public personal authentication (JPKI)^[3]. So getting JPYC from the issuer requires a My Number card.
• JPYC Inc. announced on September 18, 2026 that cumulative issuance had passed 10 billion yen^[4].

Other players are moving too. In March 2025, SBI VC Trade was reported to have obtained approval to handle USDC, a US-dollar stablecoin^[6]. On October 16, 2026, major banks announced a proof-of-concept (July 17 to 23, 2026) of jointly issuing a yen stablecoin in trust form^[5]. According to the FAQ on JPYC Inc.'s official site, issuing and redeeming JPYC on JPYC EX is free of charge, while the bank transfer fee for depositing yen and gas fees (blockchain transaction costs) are paid by the user. Issuance and redemption start from 3,000 yen (checked November 5, 2026)^[10].

How do a yen stablecoin and card payments compare for a merchant?

These are general tendencies. Actual terms depend on the provider and your contract.

Card payments and yen stablecoin payments compared

Item	Card payments	Yen stablecoin payments
Source of funds	The card company advances the money (pay later)	The stablecoin balance the buyer already holds
Merchant screening	Screening by the card company or payment provider	Depends on each service's terms
Reversal	A chargeback lets the buyer's dispute cancel a sale	A final transfer cannot be undone
What the buyer needs	A card	The stablecoin (first-time identity verification)

The trade-offs are real. A stablecoin payment is not credit, so the buyer cannot pay later or in installments. Because a final transfer cannot be undone, refunds are sent back by the merchant. Converting received tokens to yen takes a step through the issuer or another service.

How does STBLpay work for a shop selling to Japan?

STBLpay (すてぶるペイ) is a payment service in which buyers pay in yen and merchants receive JPYC. It is under development, and the launch date has not been set (as of November 2026).

• The buyer pays by Japanese-yen bank transfer and approves the payment with a passkey (face or fingerprint). If the buyer's JPYC balance is enough, no bank transfer is needed.
• The merchant receives sales in JPYC. The service does not rely on card companies' credit screening.
• The merchant withdraws to yen from its own JPYC EX account, which is available to individuals residing in Japan and Japanese corporations.
• The provider, Ango-ya LLC, does not hold buyers' or merchants' funds or private keys (non-custodial).
• The fee is under consideration. A single flat rate for all merchants is planned, and nothing is added on top for the buyer.
• Use is subject to the terms of service and to legal requirements.

A Sandbox for trying the integration and the merchant docs are public. Start with the Quick Start, the payment flow, the Sandbox and the refund overview. You can also read the English overview.