JPYC Secures $38M for Yen-Pegged Stablecoin Expansion

JPYC Inc., a company behind one of Japan's largest yen-pegged stablecoins, has raised an additional $38 million in its Series B funding round. This brings the total amount raised to $106 million since November 2021.

The investment was led by AZ-COM Maruwa Holdings (9090), a major Japanese logistics company. As part of this partnership, AZ-COM plans to settle payments with its clients, including Amazon Japan, using JPYC's stablecoin.

This deal marks the first large-scale corporate use of a stablecoin for daily business operations in Japan. The move is expected to accelerate the adoption of yen-pegged stablecoins, which are still a relatively small segment of the overall market.