JPYC Stablecoin Clears Checkout at South Korean Retailer
JPYC, a yen stablecoin pegged one-to-one to the yen and issued on various blockchains, has expanded its real-world use cases by successfully clearing checkout at CJ Olive Young in Seoul. On Saturday, JPYC's head of business development and marketing, Saito Shota, demonstrated a purchase using the Unifi app, which supports mobile gift vouchers for several stores.
The voucher purchase process took only five seconds, with users able to select JPYC as the payment method and enter their password. A 10% points reward was offered for payments made in JPYC, making it more advantageous than regular payment.
JPYC is currently being used more widely in decentralized finance (DeFi) rather than physical retail. The company aims to expand its use cases both within Japan and abroad, connecting Japanese tourist spending on shopping and travel to JPYC through the Unifi platform.