[DigitalToday reporter Yoonseo Lee (이윤서)] Japan's technology company Rakuten Wallet has produced a physical Shiba Inu (SHIB) coin, the first in the industry.

According to blockchain media outlet U.Today on July 15 local time, the product is the fifth release in Rakuten Wallet's collectible "Real Coin" series. It is set to be used for offline marketing targeting Rakuten's retail ecosystem of 44 million people.

The coin is a metal souvenir, not a token technically linked to a blockchain or a means of payment. Rakuten Wallet, however, applied a sandblast process for the first time, unlike its earlier physical coins for bitcoin, ether and XRP. The company explained that the finishing method delivers a premium matte texture and a distinctive feel.

Rakuten Wallet said internal tests produced 100 percent positive feedback. It said it plans to use the coin in live presentations and offline events. It is also preparing a large-scale giveaway campaign.

The move came alongside changes in Japan's cryptocurrency regulation. Japan's parliament passed an amendment on the day to bring cryptocurrencies under the framework of the Financial Instruments and Exchange Act. Trades using non-public information would become subject to criminal punishment, and asset issuers would face disclosure obligations similar to those of traditional listed companies. Exchanges operating without registration would also face the risk of large fines and prison terms.

Groundwork was also put in place for approving spot cryptocurrency exchange-traded funds (ETFs). Actual product launches, however, require separate, specific regulatory approval. This means regulatory uncertainty in Japan's market would decrease while operator responsibility and barriers to entry rise at the same time.

Rakuten's decision to put SHIB front and center reflects existing service linkages. Rakuten added support for SHIB this spring, allowing users to convert Rakuten Points into SHIB. Converted SHIB is linked to a structure that can be used at 5,000,000 retail locations across Japan through the Rakuten Pay payment network.

In this situation, Rakuten Wallet's physical coin goes beyond a simple commemorative release and sits within competition to secure retail customers. In Japan, competition to reach retail investors is accelerating as regulatory revisions and the framework for spot ETFs advance at the same time. Rakuten Wallet is pursuing a strategy to boost awareness of SHIB through giveaway campaigns in the millions of units and keep users within its payment and points ecosystem.

The product is, after all, a physical collectible and has no blockchain functions or on-chain utility. Even so, it is clear Rakuten Wallet has begun repeatedly exposing SHIB within the retail ecosystem. As Japan's regulatory framework moves closer to institutional investment markets, competition among large platform operators to secure customers is expected to intensify.

A cryptocurrency "Real Coin" series that Rakuten Wallet has been producing. The fifth edition, SHIB, has been completed. This time, we wanted to finish it as a different coin from before, so we adopted blast processing for the first time in the Real Coin series. With a luxurious feel and a unique texture, it has been very well received inside the company ... pic.twitter.com/EJWHIEwgc1