MINA Coin
MINA Coin is the digital local currency of Minamishimabara, a city in Nagasaki, Japan. Residents charge yen into a smartphone app and pay at member shops at one coin per yen. Charges earn a 1% point bonus. The city launched it in February 2021 with the Juhachi-Shinwa Bank and the local trade company Minasapo. Within its first year it reached about 13,000 users, roughly 30% of the city, and more than 375 shops. The app also handles electricity bills and city taxes.
MINA Coin is a live municipal prepaid currency with real penetration for a small city, about 30% of residents in its first year, but it is a yen-denominated, custodial, city-run points system with no monetary autonomy.
M69 Score
Scored against the Money2069 Manifesto — see methodology. Higher = more aligned.
Detailed Rating Breakdown
Issuance Model3x2.0
Coins exist only when users charge yen through the city system. Single permissioned issuer, fully fiat-funded, no independent supply rule.
Spending Power Stability2x2.0
Pegged 1:1 to the yen, so it inherits yen purchasing power. No stability mechanism of its own beyond the peg.
Fiat Independence & Interoperability2x1.0
Unit of account is the yen, reserves are yen deposits at a partner bank, and the system cannot run without bank rails.
Traction2x3.0
About 13,000 users, roughly 30% of city residents, 375+ shops and about 720 million yen settled in the first year (paymentnavi, Jan 2022 figures). City program page still active and recruiting merchants, last updated December 2025.
Sovereignty1.0
The city and its partner bank control issuance, accounts and data. The operator can halt the system unilaterally.
Governance2.0
Run by the city with the bank and the chamber of commerce. Decisions are administrative; program pages are public but participants have no formal say.
Resilience2.0
Depends on the city budget, campaign grants and one platform vendor. No independent funding or redundancy.
Inclusivity3.0
Free to join for residents with a smartphone, light registration only. App-only access excludes people without one.