Japan to pay tourist tax refunds in yen stablecoin JPYC from Nov 1
- —JPYC refunds start Nov 1, with UPBOND providing the wallet
- —Transfers run on Avalanche C-Chain with on-chain history
- —New model replaces in-store tax deduction with post-departure refund
- —JPYC is a payment stablecoin under Japan's funds law, not a crypto asset
Why it matters: A first large-scale case of state tax refunds paid in stablecoin, cutting fees and adding traceability, setting a template for other jurisdictions.
Source: CoinPost