JPYC raises $38 million Series B led by major Japanese logistics firm AZ-COM Maruwa
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Summary
JPYC Inc. raised 6 billion yen ($38 million) in an extension of its Series B funding round to accelerate the growth of its yen-pegged stablecoin. The round was led by AZ-COM Maruwa Holdings, a major Japanese logistics firm, which plans to use JPYC for payment settlements with its clients, including Amazon Japan.
Why it matters
This investment marks a notable instance of large-scale corporate adoption of a stablecoin for everyday business operations in Japan. JPYC's integration into AZ-COM Maruwa's network, which includes around 2,300 partners, indicates growing real-world use cases for yen-pegged stablecoins beyond the financial sector.
Key context
JPYC is a prominent stablecoin pegged to the Japanese yen, with a market capitalization of $55.5 million. Stablecoins typically track traditional assets like fiat currencies and are mostly pegged to the U.S. dollar. The yen stablecoin sector is expanding with backing from major Japanese financial institutions, though it remains small compared to the USD-dominated market.
Key numbers and entities
JPYC Inc. raised 6 billion yen ($38 million) in the latest funding round, bringing its total funding to $106 million across seven rounds since November 2021. AZ-COM Maruwa Holdings (ticker 9090) led the recent investment. JPYC’s market cap is $55.5 million. AZ-COM’s network includes about 2,300 partners, and Amazon Japan is among its clients.
What remains unclear
The source does not flag open questions or limitations regarding the funding round or JPYC’s business developments.