Japan will be the first country to introduce a cryptocurrency-backed credit card due to the efforts of Slash Vision Labs. This initiative is part of a broader effort to integrate Japanese intellectual property into Web3.
Crypto Credit Card Project Details
The new Slash Card will be the first crypto card in Japan. Although specifics about the Japanese card issuer remain undisclosed, Slash mentions its collaboration with SoftBank Payment and Visa partner LifeCard. According to Slash Payment's website, the platform supports nearly all cryptocurrencies and operates on 10 blockchains. The Slash Card is expected to launch in 2025, fully compliant with Japanese cryptocurrency and payment regulations. A special incentive program will offer users various opportunities via 'Pay-to-Earn' airdrops and more.
Memecoin Support and Japanese Culture Integration
British Virgin Islands-based Slash also supports the marketing and operational efforts of Chiitan Coin (CTAN), a branded memecoin inspired by the unofficial baby fairy otter mascot of Kochi Prefecture. This summer, Slash invested in CTAN and aims to develop a new genre called 'Mascot Meme.' In November, Slash began providing payment services to the Comilio platform, allowing users to post mangas and earn points purchased with cryptocurrency through Slash.
Collaborations and Trends in Japan
In May, Slash Vision Labs launched its SVL governance token. In August, Japanese cryptocurrency exchange DMM Crypto partnered with stablecoin platform Progmat to propose a stablecoin to power DMM.com's Seamoon Protocol. The Seamoon Protocol provided access to the Seamoon Portal, offering games and anime produced by DMM.com. However, in November, the project was discontinued, citing 'rapid changes in the business environment creating challenges for the project's sustainability.'
The Slash Vision Labs example illustrates how innovations at the intersection of technology and culture can expedite the adoption of cryptocurrency solutions in economically developed countries like Japan. Rapid technological development and projects within the cryptocurrency ecosystem present new opportunities and challenges for the industry.
