Sumitomo Mitsui Trust Partners With Hashport to Turn Card Points into JPYC Stablecoins

Hashport will serve as the platform to complete these exchanges, with every 2,500 reward points from Diners Club cards and every 4,000 points from the Trust card exchangeable for 1,000 JPYC when the service starts next Monday.

In addition, to celebrate the launch, the service is establishing a cashback program from June 1 to November 30 that will return 500 points for every 1,000 points exchanged. The JPYC received can be managed in 4 different chains, including Ethereum, Avalanche, Polygon, and Kaia, and can be used freely to pay for products and services.

Nobuaki Yamaguchi, President and Representative Director, Sumitomo Mitsui Trust Club, stated that they were delighted to combine , 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.

HashPorts 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 ,” he stressed.

Finally, Noritaka Okabe, Representative Director at JPYC, stressed this move was “an important step in connecting existing payment services with technology,” aiming for stablecoin use “to expand from daily life to business settings.”