Polygon Brings Kansai Electric Loyalty Points Onchain Through JPYC
Users of MOACT, a rewards app operated by a wholly owned subsidiary of Kansai Electric Power, can now convert NORM loyalty points into JPYC on Polygon, according to a Thursday press release from wallet developer HashPort. The feature went live on July 30 and moves points earned through social-impact missions in the app into users’ own HashPort Wallets, where they can connect to DeFi platforms. Previously, MOACT points could only be redeemed for electronic gift certificates. JPYC, issued by JPYC Inc., is described as Japan’s first regulated yen-pegged stablecoin and can be redeemed one-for-one for yen under the country’s Payment Services Act. The rollout adds to a broader push to bring Japan’s loyalty-point economy onchain. HashPort previously enabled Diners Club point conversions into JPYC on June 1 and launched an in-store yen stablecoin payment pilot with KDDI at Lawson stores on July 13. Polygon said it now handles more JPYC volume than all other chains combined, while 84% of JPYC holders use HashPort Wallet.

