Japan's TIS, one of Japan's largest payment infrastructure providers, is launching a blockchain-based platform with Ava Labs, the team behind it. Abax$20.39 This is due to the increasing demand for moving funds and assets from financial institutions on-chain.
The company's new multi-token platform is built using Avalanche's enterprise blockchain builder, AvaCloud, and is intended to support the issuance, settlement, and management of digital assets such as stablecoins and tokenized assets under Japan's Payment Services Act. TIS will lead the effort, and the company said it plans to work with banks, businesses and public institutions to promote the platform globally.
The move comes amid growing momentum for stablecoins and tokenized assets in Japan. For example, JPYC, the first regulated yen-pegged stablecoin backed by bank deposits and government bonds, was launched this week.
TIS's token platform reflects a growing trend in Japan of traditional financial institutions adopting blockchain to upgrade rather than disrupt their current systems, Ava Labs Chief Business Officer John Nahas told CoinDesk in an interview.
TIS powers half of Japan's credit card transactions, processing more than 300 trillion yen (approximately $2 trillion) annually through its PAYCIERGE payment system. Multi-token platforms bring this scale to blockchain rails, turning decades-old traditional payment systems into programmable financial infrastructure.
With this platform, TIS and its partners offer a purpose-built Layer 1 network with granular control over privacy, governance, and performance. Ava Labs says the system is capable of processing more than 50,000 transactions per second with near-instantaneous finality, with features designed to meet the strict standards of the Japanese financial industry.
AvaCloud CEO Nick Musallem said the initiative, if successful, could be the backbone of Japan's broader push towards a digital financial system. The platform is expected to support use cases such as real-time payments, embedded finance, and eventually central bank digital currency (CBDC) testing.
Isao Otokita, Managing Executive Officer of TIS, said in a statement, “Going forward, we would like to collaborate with a variety of players such as financial institutions, companies, and government agencies to promote the global spread of next-generation financial infrastructure originating from Japan and the creation of an ecosystem.''
Read more: Japan's New Yen Stablecoin Is Asia's Only Truly Global Fiat Pegged Token
