Kansai Electric lets users convert loyalty points to JPYC stablecoin on Polygon blockchain

Kansai Electric Power's subsidiary MOACT now allows users to convert loyalty points earned from paying electricity bills into JPYC, a regulated yen-pegged stablecoin, via the HashPort Wallet on the Polygon blockchain. This integration, launched on July 30, 2026, enables seamless flow from real-world utility payments to decentralized finance. JPYC is Japan's first regulated yen stablecoin, with Polygon as its dominant network, handling over $265 million in transfers. This move highlights Japan's progressive stablecoin regulation, encouraging traditional companies to adopt crypto infrastructure, which could boost Polygon's adoption but also concentrates risk in the HashPort Wallet ecosystem.