Kansai Electric Power's Rewards Arm Turns Loyalty Points Into Real Stablecoin Payments on Polygon Chain

tl;dr:

• Starting July 30, 2026, users of MOACT, Kansai Electric Power’s rewards arm, can convert ‘NORM Points’ into JPYC, a real, spendable stablecoin on Polygon.
• The program runs on Polygon Chain, the default rail already moving trillions in stablecoin payments within the Polygon Open Money Stack. The exchanged JPYC is issued on Polygon and held through HashPort Wallet, so users can hold, spend, or use it on DeFi platforms.
• JPYC already leads on Polygon: the chain carries more JPYC transfer volume than every other chain it’s issued on, combined.

Local currencies are moving onchain around the world, and Japan already has one of the most active examples of it: JPYC, already used across real payments, DeFi, and everyday spending.

MOACT, the rewards arm of Kansai Electric Co., Ltd., and HashPort are turning customer loyalty points into real payments in Japan. Users will be able to exchange loyalty points they’ve earned by completing real-world actions that support social causes for JPYC, Japan’s first fully backed stablecoin. The onchain yen is issued on Polygon Chain and held through the HashPort Wallet. JPYC Co., Ltd. issues the stablecoin itself, redeemable 1:1 for the yen, as an electronic payment instrument under Japan’s Payment Services Act.

MOACT already lets users trade accumulated NORM Points for gift cards and other digital rewards. JPYC is a new option alongside those, and a different kind of one: instead of a reward that gets used once, it’s a currency that keeps working after the exchange, held in a user’s own wallet, spendable, and usable across DeFi.

The JPYC exchange flow inside the MOACT app: select JPYC from Gifts, confirm the exchange, and the converted balance lands in the user’s wallet.

MOACT is joining an ecosystem that’s already the largest home for JPYC. Polygon carries more JPYC transfer volume than every other chain it’s issued on, combined, and 84% of JPYC holders already use the HashPort Wallet. In April 2026, JPYC crossed $100 million in cumulative onchain transfer volume on Polygon. Now that number sits over $265 million, driven largely by real payments, lending, subscriptions, merchant payments, and everyday purchases.

Japan has moved quickly on blockchain-based payments since JPYC’s official launch in 2025. This is the latest use case: points earned for social good, turned into a stablecoin someone can actually hold and use.

Learn more about the stablecoin rails powering JPYC money movement, and request early access to build on the Open Money Stack.