Currency Exchange in Japan: What to Know and Your Options

The Japanese yen

Japan uses the Japanese yen (JPY), a currency with a much larger numerical unit count per common transaction than currencies like the US dollar or euro. Japan is not part of the Eurozone or any regional currency union, and the yen floats freely against other major currencies. This means exchange rates between the yen and other currencies fluctuate based on market conditions, and the numerical amounts involved in everyday transactions are typically much larger than in dollar or euro economies.

Payment culture in Japan

Japan has historically had a strong cash culture, and while card and contactless payment acceptance has expanded significantly, cash is still commonly used, especially at smaller establishments. Many restaurants, shops, and services in Japan accept card payment, particularly in major cities and tourist areas, but carrying cash remains important for smaller purchases, local businesses, and some transportation options. The balance between card and cash varies by location and type of establishment.

Traditional currency exchange options

Visitors to Japan typically exchange currency at airport kiosks, banks, post offices, or dedicated exchange services. Each has its own pricing and availability.

• Airport kiosks are convenient but often have higher fees and less favorable rates
• Banks and post offices may offer better rates but have limited hours and may require identification
• Dedicated exchange services vary in pricing and are more common in tourist areas

Card-based spending can reduce the need for large cash exchanges, though having yen on hand is more important in Japan than in some other countries.

How Nexus Pay works in Japan

Nexus Pay is a crypto wallet with a Visa card, funded across 6 networks with in-app coin swaps. A card funded from a crypto wallet converts a stablecoin balance to Japanese yen at the point of payment or ATM withdrawal. The card works at any point of sale or ATM in Japan that accepts Visa, allowing you to spend directly from your wallet balance and withdraw yen when needed for cash transactions.

Planning for payment in Japan

When planning spending in Japan, consider that card acceptance is growing but cash remains widely used. A card funded from a crypto wallet can handle many transactions in cities and tourist areas, but having yen on hand is essential for smaller establishments, local experiences, and some transportation. Using a card for larger purchases and ATM withdrawals for cash as needed can balance convenience with Japan's payment culture.

Common questions