JPYC Raises ¥6 Billion in Series B Extension Round

Japan's stablecoin issuer JPYC has completed its Series B extension round, raising a total of ¥6 billion ($38 million).

This investment will be used to expand JPYC's finance and Web3 ecosystem, with the goal of increasing adoption of their yen-pegged stablecoin.

Major logistics company AZ-COM Maruwa made a new investment of ¥1 billion ($6.3 million) in this extension round.

AZ-COM Maruwa plans to use JPYC for paying fees and wages to its 2,300 partner companies and sole proprietors, citing the stablecoin's fast processing speed as an attractive feature.