SBI Group to Launch USDC Payment Pilot in Japan in Spring 2026

Source: CryptoNewsNet Original Title: Why Ripple’s RLUSD Was Not Used in SBI’s Japan Payment Test Despite XRP Ties Original Link:

SBI Group’s USDC Payment Pilot in Japan

SBI Group is preparing to test a new cashless payment system in Japan using USDC, a US dollar-linked stablecoin issued by Circle. The pilot project is expected to begin in spring 2026 and will focus on in-store payments using QR codes.

The test will be run by SBI VC Trade, Japan’s only registered operator allowed to handle stablecoins, along with APLUS, a payments company that works with a wide network of retail stores. The goal is to build a simple payment model where customers can pay in USDC and stores receive Japanese yen.

Under the plan, customers holding USDC in private wallets like MetaMask will scan a store’s QR code and pay using USDC. SBI VC Trade will then convert the USDC into yen and send it to APLUS, which will pass the funds on to the merchant.

SBI says the project builds on lessons learned from the Osaka-Kansai Expo, where digital wallets were tested for visitors. The company also hopes the system will be useful for foreign tourists, who may find it easier to pay with dollar-based digital money instead of cash.

Why USDC and Not Alternative Stablecoins

The announcement has drawn attention because SBI has a long-standing relationship with major blockchain projects, yet the pilot uses USDC instead of other US dollar stablecoins.

Industry observers noted that the decision likely reflects timing rather than a lack of confidence in alternative options. They noted that when SBI VC Trade became Japan’s first registered stablecoin operator in March 2025, some competing stablecoins were not yet ready for use, while SBI already had an existing partnership with Circle.

Analysts added that competing stablecoins are expected to catch up over time. They also suggested that some projects may have moved earlier if not for regulatory delays and legal challenges.

What Comes Next

If the trial is successful, SBI and APLUS plan to expand the system to more stores and explore wider use of stablecoin payments across Japan.