JPYC Scores $38 Million Boost for Japanese Stablecoin Expansion

JPYC, Japan's first registered stablecoin issuer, has secured $38 million in an extended Series B funding round. The company raised a cumulative 6 billion yen through its Series B financing, with a new investment of 1 billion yen from Tokyo-listed logistics company AZ-COM Maruwa Holdings.

The funds will support the expansion of JPYC's financial infrastructure and Web3 ecosystem, as well as the wider adoption of its yen-backed stablecoin. The company has already made progress in this area, with commercial partnerships and new payment use cases for businesses and consumers.

One notable example is AZ-COM Maruwa Holdings' plan to use JPYC to pay transportation fees and salaries to its logistics partners and independent contractors. This will allow for faster settlements and more frequent payments than traditional bank transfers, addressing labor shortages linked to Japan's aging workforce and stricter overtime regulations.