Bridging Finance and Web3: Next-Generation Payment Infrastructure Built by Financial Institutions Together｜WebX2026

Bridging Finance and Web3 --- Next-Generation Payment Infrastructure Built by Financial Institutions Together

At the WebX2026 session "Bridging Finance and Web3 --- Next-Generation Payment Infrastructure Built by Financial Institutions Together," four major companies from different sectors—Circle, Nomura, JCB, and Sumitomo Corporation—discussed how stablecoins and on-chain finance are transforming existing payment and financial infrastructures. The session was moderated by Keita Sekiguchi.

Self-Introductions — Each Company's Efforts in Web3

Moderator Sekiguchi asked the speakers to introduce their current initiatives in the Web3 space.
Kenta Sakakibara
As the head of Circle Japan, he introduced his role as an issuer of USDC and mentioned that he is working on providing infrastructure to expand stablecoins into various financial and on-chain economies.
Hiroyuki Inaita
He explained that he has been responsible for the Digital Company at Nomura and has been involved in developing cryptocurrency-related businesses and STOs for the past four to five years. He noted that they are expanding their business globally and expressed the view that digital finance, not just cryptocurrencies, has the potential to significantly change financial infrastructure.
Shinya Kubodera
He introduced that he has been in charge of the innovation area since around 2017, conducting numerous proof-of-concept experiments and research on blockchain and digital assets. He mentioned that at that time, as a payment service provider, the reliability of the infrastructure and use cases were not clear, but they are now re-evaluating stablecoins as an important strategic theme for considering the future of payments.
Naoya Uchimura
As the head of the First New Business Investment Unit at Sumitomo Corporation, he leads a venture investment team with two missions: generating revenue through investments and creating new businesses through investments. He also mentioned that he has been paying attention to blockchain for six or seven years and has multiple investment achievements in this field.

Are Stablecoins a Threat or Complement to Card Payments?

Sekiguchi asked Kubodera about the positioning of stablecoins in the payment sector.
Shinya Kubodera
He pointed out that the perception changes depending on the use case, noting that in areas like international remittances and B2B where existing payment methods face cost and speed challenges, stablecoins could rapidly gain popularity. However, he also mentioned that they do not necessarily conflict with card payments, as there is room to enhance convenience through combinations like stablecoin-linked cards, and new options may emerge in the inbound sector, as well as new markets that existing card schemes find difficult to address, such as agentic commerce and M2M/micro-payments, indicating both threats and opportunities.
Kenta Sakakibara
Agreeing with Kubodera, he stated that the complementary aspect is significant. He emphasized the importance of focusing on problem-solving rather than being technology-first, pointing out that the adoption in merchant payments is progressing at a faster pace than expected. He recognized that new use cases will continue to emerge with a problem-first approach, indicating that we are at a pivotal point of change.

Strategies for the Adoption of Yen and Dollar Stablecoins

Considering the current situation where trust-based yen stablecoins are leading in Japan, Sekiguchi asked Sakakibara about the outlook for the adoption of dollar stablecoins.
Kenta Sakakibara
He suggested that adoption is likely to progress primarily in stores with high inbound demand and many users holding dollars, explaining that the ease of adoption depends on user attributes. He pointed out that payments are inherently something that tends to become widely adopted as infrastructure, and when successful cases emerge in one industry, it is easier for that industry to become a de facto standard. He also noted that the effects of stablecoins are often realized more on the backend than the frontend, indicating that expansion is already progressing in areas not visible to consumers.

Each Company's Proof-of-Concept Experiments and Challenges Faced

Sekiguchi continued by asking about the status of each company's proof-of-concept experiments and considerations for issuing their own tokens.
Shinya Kubodera
He explained that JCB had considered issuing stablecoins but prioritized leveraging their existing merchant network's strengths over venturing into an entirely unknown world without experience in issuing funds, thus lowering the priority of issuance.
Hiroyuki Inaita
He stated that they have not yet reached the fusion of traditional finance and cryptocurrencies as initially anticipated, and are now focusing more on the potential for financial infrastructure to undergo significant transformation through this technology rather than on cryptocurrencies themselves. He noted that while there is a movement in the U.S. to tokenize all financial products regarding RWA (real-world assets), Japan has not yet reached specific discussions on this matter.
Naoya Uchimura
He explained that Sumitomo Corporation is taking a two-step approach, first verifying how they can enhance their operations with stablecoins and then considering commercialization. He pointed out that in supply chain payments, there is a significant gap between the delivery of goods and payment, and switching to stablecoins could clear most of these issues, revealing a new world.

Outlook for Two Years Ahead

Finally, Sekiguchi asked the speakers how far stablecoins and digital assets would progress in two years.
Naoya Uchimura
He suggested that globally, almost no companies would be using stablecoins for international remittances, while it is uncertain whether Japan will reach the same level. He noted that remittances are likely to be the first to gain popularity as a simple use case that is less likely to harm existing stakeholders, but that subsequent applications will take more time.
Shinya Kubodera
He expressed that it would be challenging to create an environment where merchants and users can use different chains seamlessly within two years, but he showed hope that players like Circle could solve cross-chain issues.
Kenta Sakakibara
He stated that in two years, they aim to reach a stage that can be called on-chain economy, not just on-chain finance, and expressed anxiety about the speed of developments overseas.
Hiroyuki Inaita
Considering the speed of change in the U.S. from two years ago to now, he noted that Japan would also have to change, and while they are not yet at a stage where tokenized financial assets are traded in wallets, he suggested that by focusing on wholesale payments, the use of new technologies could become commonplace in two years.

Session Summary

Moderator Sekiguchi pointed out that the emergence of a world where payments through stablecoins are compatible will occur as assets move on-chain, emphasizing that the participation of not only startups but also large companies with market share is essential for building this infrastructure.