Japan's L1 JSC rebrands as MIZUHIKI, pivots to stablecoin payments
- —Japan Smart Chain rebranded as MIZUHIKI: The Japan Chain
- —Project pivots to stablecoin issuance and payment services (PSP)
- —Transaction finality under 1 second; gas payable in stablecoins
- —Supports USDC, USDT and JPYC; merchants receive yen without holding crypto
Why it matters: The Japanese L1, backed by partners including KDDI, GMO Trust and Dentsu System, is betting on regulated stablecoin settlement, intensifying competition in Asia's payment infrastructure.
Source: CoinDesk Japan