BlockBeats News, July 15th - Japan's largest credit card network JCB has signed a Memorandum of Understanding (MOU) with Circle. The two parties will explore the use of USDC for cross-border payments, merchant settlements, and fund management, promoting the application of stablecoins in Japan's daily payment scenarios.

JCB has approximately 140 million cardholders and 40 million merchants worldwide. In the initial stage, the two parties will conduct a Proof of Concept (PoC) around JCB's internal fund transfers. They will further study the use of USDC to improve cross-border payment efficiency, reduce remittance costs, and support international tourists in Japan using stablecoins for payment at merchants.

This collaboration is part of Japan's stablecoin commercialization process. Previously, Circle announced a partnership with Nomura to develop a USDC-based foreign exchange settlement service, and the Japanese convenience store chain Lawson also plans to launch a stablecoin payment pilot in August this year.