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Crypto

Japan considers using stablecoins for consumption tax refunds to foreign tourists

Japan is considering using stablecoins to refund consumption tax to foreign visitors entering the country, CoinPost reported on Oct. 21. Land, Infrastructure, Transport and Tourism Minister Tatsunori Ibayashi said the government will study including stablecoins in the relevant system. Japan will shift its duty-free scheme to a refund method for purchases from Nov. 1. Private-sector groups are already building models using the JPYC stablecoin.

Crypto

Japan considers stablecoins for childcare and grocery subsidies, eyes onchain shift for government bonds and payment infrastructure

Japan is considering using stablecoins and tokenised deposits for subsidies with restricted uses such as childcare and groceries, while also examining a broader shift to blockchain-based finance. The Financial Services Agency has released minutes from a forum meeting and plans an interim summary in early 2027. Discussions cover programmable functions tied to real transactions, linking onchain and offchain payments, and ensuring payment-system stability and safety.

Fintech

Japan\'s three megabanks complete test of jointly issued stablecoin for international payments

Japan\'s three megabanks have completed a cross-border payments test using a jointly issued stablecoin. Mizuho Bank, Mitsubishi UFJ Bank and Sumitomo Mitsui Banking Corp ran the trial from July 17 to 23 with Mitsubishi UFJ Trust and Banking and TISI, checking issuance, transfer and redemption. The project is tied to a Financial Services Agency-backed programme and aims to prepare for real transactions within fiscal 2026.