Japanese stablecoin firm JPYC raised $38M in an extended Series B, with logistics company AZ-COM Maruwa contributing $6.3M to support yen stablecoin adoption.
Japan's registered yen stablecoin issuer JPYC Inc has secured a total of 6 billion yen ($38 million) in an extended Series B funding round, drawing in a major domestic logistics firm as it moves to expand its footprint in the country's growing digital payments market.
The latest injection came from AZ-COM Maruwa, a Tokyo-listed logistics company, which committed 1 billion yen ($6.3 million) to the round. Earlier in the Series B, Metaplanet Ventures had invested 400 million yen ($2.53 million) in March.
Logistics Firm Plans Stablecoin Payroll Use
AZ-COM Maruwa, which counts Amazon Japan among its clients, said it plans to use JPYC to pay fees and salaries to roughly 2,300 business partners and individual contractors. The company reportedly sees the speed of yen-denominated stablecoin transfers as a practical solution for attracting business partners and managing driver shortages brought on by an aging workforce and stricter overtime rules. Nikkei reported the firm's plans last month.
JPYC said the round's proceeds will fund expansion of its financial and Web3 ecosystem and accelerate adoption of its yen-pegged stablecoin. The company launched last October as Japan's first registered stablecoin under the country's updated payment services rules, and has since begun piloting payments at a location of Lawson, Japan's third-largest convenience store chain.
Related Article: JPYC Stablecoin Set for 1st Large-Scale Corporate Use in Japan Logistics Deal
Traditional Banks Join Japan's Stablecoin Race
Japanese authorities have signaled support for broader stablecoin adoption, and established financial institutions have responded. SBI Group launched JPYSC in June as the country’s first trust bank-backed yen stablecoin. Three of Japan's largest banks, MUFG, SMBC, and Mizuho, are working together on a jointly issued stablecoin of their own.
AZ-COM Maruwa's investment stands out as a sign that industrial companies outside the financial sector are beginning to see yen stablecoins as practical infrastructure for supply chain payments and contractor settlement, rather than purely as a bet on digital assets.
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