Key facts
- JPYC Inc. raised $38 million (6 billion yen) in an extended Series B funding round.
- AZ-COM Maruwa Holdings, a Japanese logistics company, is a new investor in the round.
- AZ-COM Maruwa plans to use JPYC for client payments, including to Amazon Japan.
- The funding will accelerate the expansion of JPYC's yen-pegged stablecoin.
- This brings JPYC's total funding to $106 million since November 2021.
- Lawson is piloting stablecoin payments with JPYC.
JPYC Inc., a registered Japanese stablecoin issuer, has completed an extended Series B funding round, raising approximately $38 million (6 billion yen). The company intends to use the capital to accelerate the expansion of its yen-pegged stablecoin, enhance its financial infrastructure, and grow its Web3 ecosystem.
AZ-COM Maruwa Holdings, a major Japanese logistics firm, joined the round as a new investor. This marks a significant development as AZ-COM Maruwa plans to utilize JPYC for payments to its approximately 2,300 clients and partners, including Amazon Japan. This initiative represents the first large-scale corporate adoption of a stablecoin for daily business operations in Japan.
In parallel, JPYC is expanding its reach into retail payments. The retailer Lawson is currently piloting stablecoin payments, including JPYC, through existing point-of-sale systems, with further trials planned. JPYC has also seen adoption in select restaurants and dental clinics.
The total funding raised by JPYC now stands at $106 million across seven rounds since November 2021. The yen stablecoin market in Japan is experiencing growth, supported by major financial institutions, though it remains a small fraction of the U.S. dollar-dominated global stablecoin market.