WasabiCard, SOUSHIN LTD Sign Pact to Explore Stablecoin Payments in Japan

Singapore-based WasabiCard and Japan’s SOUSHIN LTD have signed a partnership to explore stablecoin payments for retailers and cross-border settlement, expanding WasabiCard’s work in Japan’s commercial payments market.

The planned work pairs WasabiCard’s payment infrastructure and stablecoin expertise with SOUSHIN’s connections in Japanese retail and trade. The companies also aim to help retailers digitize their operations. No store payment service was announced.

WasabiCard provides businesses with card issuance, stablecoin payment and multicurrency settlement services. WasabiCard founder Ray Yang described the agreement as part of the company’s expansion into Japan and an effort to bring stablecoin payments into the real economy.

The agreement follows a separate effort to examine stablecoin use in Japan. On Oct. 21, SBI VC Trade, SBI XDC Network APAC and Shinhan Card agreed to study yen stablecoin payments at physical stores, along with cross-border trade settlement.