This is a first-of-its-kind program in Japan where customers can convert their reward points into JPYC, the country’s first digital yen stablecoin. This could inject up to ¥2.8 trillion into the stablecoin market and significantly increase its use.
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Key Takeaways:
- Hashport and Sumitomo Mitsui Club partnered to let cardholders trade reward points for JPYC next Monday.
- Yoshihiro Yoshida said points tap a 2.8T yen annual market, driving stablecoin adoption across Japan.
- On June 1, a 50% point cashback program will launch to boost JPYC usage and exchange.
Sumitomo Mitsui Trust Club and Hashport Launch Reward Point To Stablecoin Exchange Program
Sumitomo Mitsui Trust Club, a financial services company, and Hashport, a non-custodial cryptocurrency wallet, have joined forces to launch a trading service for credit card reward points and stablecoins.
The service, labeled as the first of its kind, will allow cardholders of Diners Club and Trust Club cards to trade their accumulated points for JPYC stablecoins, which are pegged to the value of the Japanese yen.
Hashport will facilitate these transactions, allowing Diners Club cardholders to exchange 2,500 reward points and Trust cardholders to exchange 4,000 points for 1,000 JPYC starting next Monday.
To mark the launch, a cashback program will run from June 1st to November 30th, giving you 500 points back for every 1,000 points you redeem. You can manage the JPYC tokens across four different blockchains – Ethereum, Avalanche, Polygon, and Kaia – and use them to pay for purchases as you please.
Nobuaki Yamaguchi, President and Representative Director, Sumitomo Mitsui Trust Club, stated that they were delighted to combine stablecoins, which are attracting global attention as a safe and reliable next-generation payment method, with credit card points.
He also explained that their reward points had no expiration date.
HashPort’s CEO Yoshihiro Yoshida remarked on the relevance of this kind of program as a catalyst to increase adoption of stablecoins in Japan. “Points represent a massive fund pool with over 2.8 trillion yen newly issued annually, and have the potential to be a catalyst for the social implementation of stablecoins,” he stressed.
Finally, Noritaka Okabe, Representative Director at JPYC, stressed this move was “an important step in connecting existing payment services with blockchain technology,” aiming for stablecoin use “to expand from daily life to business settings.”
2026-05-29 06:57