JPYC Inc., the operator of Japan’s first fully regulated yen-pegged stablecoin, has completed an extension of its Series B funding round, bringing the total raised in the round to approximately 6 billion yen, or about $38 million. The latest capital injection includes a roughly 1 billion yen commitment from AZ-COM Maruwa Holdings, a major Tokyo-listed logistics company whose clients include Amazon Japan.

The funding positions the company to expand adoption of its digital yen token beyond crypto markets into everyday commercial settlements. AZ-COM Maruwa intends to use JPYC to settle fees and compensation with about 2,300 business partners and independent contractors, primarily truck drivers and subcontractors. The arrangement is described as one of the first large-scale corporate applications of a yen stablecoin for routine operational payments in Japan.

Logistics Partnership Targets Faster Settlements

AZ-COM Maruwa operates an extensive trucking and warehousing network. Company executives have pointed to persistent driver shortages driven by Japan’s aging workforce and overtime restrictions introduced in 2024. Traditional bank transfers are viewed as slower and more costly, with limited processing windows. JPYC payments are expected to enable quicker and lower-cost settlements, potentially supporting more frequent contractor payouts and improved retention.

Plans include linking payments to delivery confirmation records, possibly through GPS data or automated smart contracts that release funds once conditions are met. AZ-COM Maruwa is also developing a dedicated wallet application to manage the transactions. The partnership moves the stablecoin from pilot demonstrations into active business operations.

Background on the Stablecoin and Funding History

JPYC launched in October 2025 as Japan’s first digital currency registered under the amended Payment Services Act. Each token is designed to maintain a one-to-one peg with the Japanese yen and is backed by yen bank deposits and Japanese government bonds held in reserve. The company earns interest on those reserves rather than charging users transaction fees in many cases. The token operates across multiple blockchains, including Avalanche, Ethereum, Polygon, and Kaia.

The Series B process unfolded in stages. An initial close in February totaled about 1.78 billion yen and was led by Asteria Corporation, with participation from BitFlyer Holdings and vehicles linked to Meiji Yasuda Life Insurance and West Japan Railway. A second close in April added roughly 2.8 billion yen, bringing the cumulative figure at that point to about 4.6 billion yen. Investors in that phase included NCB Venture Capital, Metaplanet, and Sumitomo Life. Metaplanet Ventures had earlier committed 400 million yen. The August extension with AZ-COM Maruwa lifted the Series B total to approximately 6 billion yen. Across all rounds since late 2021, the company has raised about $106 million according to venture data trackers.

Retail Pilots and Broader Market Context

In parallel with the logistics initiative, JPYC has begun testing consumer payments. Convenience store operator Lawson is piloting the stablecoin at selected locations through existing point-of-sale systems. Additional trials are underway at some Chibo restaurant outlets, Kyoto vending machines, and dental clinics in Tokyo and Chiba. These efforts evaluate transaction speed, system integration, and everyday usability.

Japan’s government has incorporated “on-chain finance” into its July economic policy package and has encouraged the development of yen-denominated stablecoins as a counterweight to the dominant U.S. dollar tokens that account for the bulk of the global stablecoin market. Major domestic players are also advancing competing projects. SBI Group launched its trust-backed JPYSC yen stablecoin in June. Japan’s three largest banks—MUFG, Sumitomo Mitsui, and Mizuho—continue work on a joint stablecoin initiative expected in fiscal 2026.

JPYC has stated that the new capital will support expansion of payments, remittances, and Web3 integrations while strengthening its financial infrastructure. The combination of regulatory registration, institutional backing, and early corporate adoption places the token among the more visible yen-pegged options as Japan seeks to build domestic digital payment rails.