Lawson to trial yen stablecoin payments at Tokyo store with Hashport

Japanese convenience store giant Lawson will start a pilot program in early August, offering customers the option to pay with a yen-pegged stablecoin at its Takanawa Gateway City location in Tokyo. The initiative is part of a collaboration with Hashport, a digital asset wallet provider.

First stablecoin retail POS test in Japan

This will be the first demonstration in Japan that links a stablecoin directly to a retail point-of-sale (POS) system. During the trial, shoppers can pay by presenting a barcode on their smartphone wallet app, which will be scanned by Lawson staff through existing POS terminals.

Lawson, established in 1975, operates thousands of convenience stores across the country and is a household name in Japanese retail. The trial aims to evaluate payment speed and system stability before considering a national rollout.

Lawson stated that the pilot will be reviewed to assess transaction speed and system reliability, which will determine whether the payment option will be expanded to additional stores.

Payment information will be instantly updated, reflecting the new balance in customers’ wallets. Simultaneously, transaction data, inventory, and purchase records can be managed by stores through their traditional retail software. The stablecoin is designed to retain a one-to-one value with the Japanese yen and is fully backed by conventional financial assets.

Growing adoption of stablecoins in Japanese retail

Japan is witnessing an expansion in stablecoin use beyond financial trading, extending into daily consumer payments. Earlier this year, restaurant chain Chibo began accepting stablecoin at select outlets, while dental clinics in Tokyo and Chiba are preparing to roll out similar payment options in partnership with Hashport.

The adoption trend has also attracted Japan’s largest banks. Mitsubishi UFJ, Sumitomo Mitsui, and Mizuho have launched stablecoin trials, operating under the oversight of the Financial Services Agency, the country’s main financial regulator.

Mini dictionary: Hashport is a Japanese fintech company specializing in blockchain infrastructure and digital asset wallet technology, facilitating secure management and transfer of cryptocurrencies and stablecoins for businesses and consumers.

Retail influence and competition in payments

Lawson’s involvement marks a significant shift for stablecoins in Japan. Major retail chains process millions of transactions each day and hold considerable influence over which payment systems become standard for consumers. By introducing stablecoins directly at the checkout, retailers can play an outsized role in everyday adoption, potentially rivaling the impact of banks and fintech firms.

The competitive environment could change accordingly. Payment providers, wallet developers, and financial institutions will need to emphasize partnerships with retail cash register systems, rather than focusing solely on the existing pool of cryptocurrency holders.

As acceptance grows, the value proposition of a stablecoin will increasingly depend not only on how much is issued or traded, but also on the scale of merchant acceptance across the country.

Japan stands out globally as one of the few markets where regulators, banks, wallet providers, and retailers are aligned in exploring stablecoin technology. If Lawson extends its pilot nationwide, pressure may mount on rival chains to introduce stablecoin payment capabilities.