Japanese Logistics Firm Backs JPYC Stablecoin Expansion

JPYC Inc., a company behind the yen-pegged stablecoin JPYC, has raised $38 million in an extension of its Series B funding round. The investment was led by AZ-COM Maruwa Holdings (9090), a major Japanese logistics firm.

The funds will be used to accelerate the expansion of JPYC's stablecoin. This marks the first large-scale corporate use of a stablecoin for daily business operations in Japan.

AZ-COM plans to settle payments in JPYC with its clients, including Amazon Japan, which is part of its network of around 2,300 partners.