UPCX Conducts Technical Proof of Concept with BitTrade Using UPC Token

— Evaluating in-store operational processes, from crypto-asset transfers and receipt confirmation to conversion into Japanese yen and bank account deposits —

UPCX-Platforms Pte. Ltd. (Director: Makoto Nakano; hereinafter “UPCX”), together with BitTrade Inc. (President and Representative Director: Lei Guan; hereinafter “BitTrade”), conducted a technical proof of concept (hereinafter the “PoC”) involving in-store checkout operations using the UPC crypto asset and its conversion into Japanese yen on Wednesday, October 21, 2026, with the cooperation of Sushi Yoneshima in Fukuoka City, Japan.

UPC is the native token of the UPCX blockchain. The PoC used UPC (ERC-20) issued on Ethereum.

The PoC evaluated the end-to-end operational process, including the restaurant’s presentation of the required UPC amount at checkout, participants’ transfers of UPC, confirmation of receipt by the restaurant, conversion into Japanese yen through BitTrade’s brokerage service, and deposit into the restaurant’s bank account.

Based on feedback from the restaurant, the PoC also identified two areas for improvement: presenting the amount due more quickly at checkout and reducing the restaurant’s operational burden associated with conversion into Japanese yen and withdrawal procedures.

Background and Objectives

For restaurants and other merchants, the timing of receipt of sales proceeds is an important factor directly linked to purchases of ingredients and day-to-day working capital management.

With existing cashless payment services, including credit card payments, settlement cycles vary depending on the service and contractual terms, and there may be a period between a sale and the deposit of the proceeds into a bank account.

Restaurants, in particular, incur ongoing expenses such as purchases of ingredients and personnel costs.

They therefore need to manage their cash flow with the time gap between a completed sale and receipt of funds in mind.

Combining blockchain-based asset transfers with conversion into Japanese yen may offer a way to make the process of receiving funds more efficient for merchants.

However, incorporating such processes into actual store operations requires several tasks to be handled smoothly, including checking transfer destinations, confirming receipt, managing price fluctuations, and converting assets into Japanese yen and withdrawing the funds.

Against this background, UPCX and BitTrade conducted the PoC with the cooperation of a physical restaurant to evaluate the operational process from crypto-asset transfers and receipt confirmation to conversion into Japanese yen and bank account deposits, and to assess its feasibility and identify operational challenges.

PoC Overview and Results

• Date: Wednesday, October 21, 2026
• Participating Restaurant: Sushi Yoneshima
• Location: 1F, Matsui Building, 1-16-5 Yakuin, Chuo-ku, Fukuoka City, Fukuoka Prefecture, Japan
• PoC Environment: A closed environment limited to the parties involved
• Scope: The end-to-end operational process involving UPC transfers, receipt confirmation by the restaurant, conversion into Japanese yen, and deposit into a bank account

Photo: Entrance to Sushi Yoneshima, the restaurant that cooperated in the PoC (Photo provided by the restaurant)

Photo: Inside Sushi Yoneshima, the participating restaurant (Photo provided by the restaurant)

1. Presentation of the Required UPC Amount

   The restaurant calculated and presented the amount of UPC to be transferred by participants based on the UPC price offered through BitTrade’s brokerage service at the time of checkout.

2. UPC Transfer by Participants

   Participants scanned the QR code presented by the restaurant, registered the destination address, entered the amount, and transferred the specified quantity of UPC.

3. Receipt Confirmation by the Restaurant

   The restaurant confirmed receipt of the transferred UPC and evaluated the confirmation procedures required at checkout.

4. Conversion into Japanese Yen and Deposit into a Bank Account

   The restaurant converted the received UPC into Japanese yen through BitTrade’s brokerage service, completed the withdrawal procedures, and confirmed receipt of the funds in its bank account on the same day.

Figure: Process flow from UPC transfer to conversion into Japanese yen and deposit into a bank account

Scenes from the PoC

Photo: The chef displays a QR code on the restaurant’s device and presents it to participants during the PoC

Comment from the Participating Restaurant, Sushi Yoneshima

“I found it particularly appealing that the crypto assets we received were converted into Japanese yen and deposited into our bank account on the same day. With credit card payments, there is a period of time before sales proceeds are deposited. In this PoC, being able to access the funds on the same day made me feel that it could make day-to-day cash flow management, including purchases of ingredients, easier. On the other hand, I felt that it would be difficult to leave the task of converting the received crypto assets into yen to staff on site. Being able to communicate the amount due quickly is also important, so I believe improvements in usability, such as linking the cash register with a payment terminal, will be necessary. We also welcome many guests from overseas, and I look forward to being able to offer new payment options to both domestic and international customers in the future.”

Future Developments | Reducing Merchants’ Operational Burden and Building Next-Generation Payment Infrastructure

UPCX will apply the insights gained regarding checkout usability and merchants’ operational burden to development and operational design for the implementation of stablecoins on the UPCX mainnet. With both domestic and international use in mind, UPCX aims to create a payment environment that is easy for merchants to use.

Photo: From left: Makoto Nakano, Director of UPCX; Tsuyoshi Yoneshima, chef of the participating restaurant Sushi Yoneshima; and Lei Guan, President and Representative Director of BitTrade Inc.

About UPCX

UPCX-Platforms Pte. Ltd. is a global company that develops an open-source payment system built on a high-speed blockchain optimized for payments and financial services, delivering next-generation payment experiences.

• Company Name: UPCX-Platforms Pte. Ltd.
• Director: Makoto Nakano
• Address: 8 MARINA BOULEVARD #11-01/02, MARINA BAY FINANCIAL CENTRE, SINGAPORE
• Website: https://upcx.io/

About BitTrade

BitTrade is a crypto-asset exchange service provider in Japan, offering trading services for a wide range of crypto assets through its exchange and brokerage services. Leveraging the strengths of its blockchain technology and security systems, BitTrade has also provided technical support to various businesses. In addition, BitTrade runs a variety of promotional campaigns, including roulette-style campaigns, and has earned the support of many customers.

• Company Name: BitTrade Inc.
• President and Representative Director: Lei Guan
• Address: 1-1-1 Nishi-Shimbashi, Minato-ku, Tokyo, Japan
• Crypto-Asset Exchange Service Provider Registration: Director-General of the Kanto Local Finance Bureau No. 00007
• Type I Financial Instruments Business Registration: Director-General of the Kanto Local Finance Bureau (Kinsho) No. 3295
• Association Membership: Japan Virtual and Crypto assets Exchange Association (JVCEA)
• Contact: https://support.bittrade.co.jp/hc/ja/requests/new

Notices and Disclaimers

• This release is intended solely to provide information about the PoC and its results. It is not intended to solicit or recommend crypto-asset transactions.
• The PoC is not a commercial service intended for the general public and does not constitute the launch of a UPC payment service at Sushi Yoneshima.
• Crypto assets involve risks, including price volatility. There is no guarantee that the processing times or operational processes observed in this PoC can be reproduced under general commercial conditions.