Key facts
- JPYC, a registered Japanese stablecoin issuer, has completed an extended Series B funding round.
- The company raised approximately $38 million (6 billion yen) in the extended round.
- AZ-COM Maruwa Holdings joined as a new investor, contributing to the round's extension.
- The funds will be used to expand JPYC's financial infrastructure, Web3 ecosystem, and stablecoin adoption.
- AZ-COM Maruwa plans to utilize JPYC for payments to its logistics partners and contractors.
- Retailer Lawson is piloting stablecoin payments with JPYC and other stablecoins.
Japanese stablecoin issuer JPYC has announced the completion of an extended Series B funding round, raising a cumulative 6 billion yen, or approximately $38 million. The company plans to use the capital to expand its financial infrastructure, Web3 ecosystem, and promote wider adoption of its yen-backed stablecoin.
AZ-COM Maruwa Holdings, a Japanese logistics group, joined the round as a new investor. The extension added approximately 1 billion yen to the previous 5 billion yen total announced in May. AZ-COM Maruwa intends to use JPYC for payments to its roughly 2,300 logistics partners and independent contractors, aiming for faster settlements than traditional bank transfers.
In parallel, JPYC is expanding into retail payments. Retailer Lawson has initiated a pilot program testing stablecoin payments, including JPYC, using existing point-of-sale systems. Further trials are planned at other Lawson locations with different stablecoins and wallets. JPYC has also expanded acceptance to select restaurants and dental clinics.
Japan's regulated stablecoin market is seeing increased activity, with other financial institutions like SBI Group and major banks developing their own stablecoin initiatives.