JPYC Secures $38M in Extended Series B Funding from AZ-COM Maruwa

JPYC Inc, Japan's registered yen stablecoin issuer, has secured $38 million in an extended Series B funding round. The investment came from logistics company AZ-COM Maruwa and Metaplanet Ventures, with AZ-COM committing a significant portion of the total amount.

The funds will be used to expand JPYC's financial ecosystem and accelerate adoption of its yen-pegged stablecoin. This follows Japan's updated payment services rules, which have paved the way for broader stablecoin use.

AZ-COM Maruwa plans to utilize JPYC for paying fees and salaries to 2,300 business partners and contractors. The company sees the speed of yen-denominated transfers as a practical solution to attract business partners and manage driver shortages.