JPYC Briefs Japan Fair Trade Regulator on Stablecoin Payment Competition

Yen stablecoin issuer JPYC submitted a briefing to the Japan Fair Trade Commission regarding competition in the country's cashless payments market and how its digital currency operates. The company shared details on September 14 about its fee-free payment structure and the hurdles merchants encounter when trying to pass savings on to consumers.

Since its launch in October 2025, more than 150 merchants—including restaurants, retailers, mobile shops, and e-commerce sites—have adopted JPYC payments. Because transactions occur directly on the blockchain, JPYC does not charge merchants any transaction fees. While some businesses want to offer discounts or free shipping to reward customers for using this option, they worry that doing so might violate traditional credit card network rules. These rules typically prohibit merchants from offering cash discounts, charging surcharges, or steering buyers toward cheaper payment methods.

The situation highlights a growing tension between traditional payment networks and emerging blockchain systems. Observers will be watching whether the Japan Fair Trade Commission takes action to address these credit card restrictions. JPYC maintains that businesses should have the freedom to select their preferred payment systems and set prices that reflect their actual transaction costs.