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Circle ahead of Coinbase renegotiation; Japan\'s Mizuho Securities warns on USDC profit model

Mizuho Securities in Japan cut its investment rating on USDC issuer Circle to underperform from neutral, warning that competition could intensify and USDC could become more commoditised if a U.S. Clarity bill passes. It flagged OpenUSD as a key threat and said Coinbase could gain leverage in the next revenue-sharing talks with Circle. Mizuho also cited potential limits on yield-like returns, entry by major banks and longer-term pressure on net profit margins.

Crypto

Lawson to test stablecoin payments at convenience stores with JPYC from August

Japan\'s convenience store chain Lawson will introduce payments using yen-pegged stablecoin JPYC at stores from August. A pilot is set for early August at a Lawson store operated by telecoms company KDDI, using a smartphone wallet barcode scanned by a POS terminal. Lawson plans to check POS integration and payment time. KDDI has a capital and business tie-up with wallet firm HashPort, which supports the trial.

Crypto

Japan\'s SBI nears launch of yen stablecoin JPYSC, targeting institutional trading

Japan\'s SBI Group plans to issue its yen-pegged stablecoin JPYSC as early as this week after securing approval from the Financial Services Agency, The Defiant reported. The token would be the first yen stablecoin issued by a financial institution using a trust-bank structure under Japan\'s Payment Services Act. SBI said JPYSC is a trust-based stablecoin issued by Shinsei Trust Bank, with distribution handled by SBI VC Trade and development with Singapore-based Startale Group.