JPYC Secures $38M in Funding from Tokyo Logistics Firm

Japan's JPYC Inc., a registered yen stablecoin issuer, has secured $38 million in an extended Series B funding round. The latest injection came from AZ-COM Maruwa, a Tokyo-listed logistics company, which committed $6.3 million to the round.

The funds will be used to expand JPYC's financial and Web3 ecosystem, as well as accelerate adoption of its yen-pegged stablecoin.

AZ-COM Maruwa plans to use JPYC for payroll payments to roughly 2,300 business partners and individual contractors. The company sees the speed of yen-denominated stablecoin transfers as a practical solution for attracting business partners and managing driver shortages brought on by an aging workforce and stricter overtime rules.