Japanese Logistics Firm Backs Stablecoin With $38M Investment

JPYC, a Japanese stablecoin issuer, has secured $38 million in an extended Series B funding round. The investment brings its total funding since 2021 to approximately $106 million.

The fresh capital was raised with the support of AZ-COM Maruwa Holdings, a major Japanese logistics firm. As part of this partnership, JPYC will be integrated into logistics and payment operations, enabling AZ-COM to settle payments with over 2,300 contractors and business partners using the Yen-pegged stablecoin.

JPYC plans to utilize the funds to expand its financial and Web3 ecosystem. This includes exploring broader real-world use cases for its stablecoin in areas such as payments, remittances, and beyond.