Citing Coinpedia, SBI Group is set to test a cashless payment system in Japan using USDC, a stablecoin issued by Circle, beginning in spring 2026. The project, led by SBI VC Trade and APLUS, will allow customers to pay via USDC through QR codes, with funds converted to yen for merchants. Despite SBI's long-standing ties with Ripple, the pilot uses USDC instead of Ripple's RLUSD. Pro-XRP lawyer Bill Morgan suggested the decision was due to RLUSD not being ready when SBI became Japan's first registered stablecoin operator in March 2025. If successful, the system may expand to more stores.
SBI Chooses USDC Over Ripple's RLUSD for Japan Payment Test
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Summary
SBI Group is launching a cashless payment project in Japan using USDC, a stablecoin from Circle, starting in spring 2026. The project, led by SBI VC Trade and APLUS, will let users pay via USDC through QR codes, with funds converted to yen for merchants. Despite SBI’s history with Ripple, the test uses USDC instead of RLUSD. A pro-XRP lawyer noted RLUSD wasn’t ready when SBI registered as Japan’s first stablecoin operator in March 2025. Success could see the system expand to more stores. What is the project’s goal? To test a new payment method in Japan.
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