Yen stablecoin issuer JPYC’s Series B reaches $38M
Reported by Cointelegraph · AI-assisted summary by ChikoCorp AI News Desk
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Summary
Japanese yen stablecoin issuer JPYC has extended its Series B funding round to a cumulative total of about 6 billion yen ($38 million). The new investor joining the round is Japanese logistics group AZ-COM Maruwa Holdings. JPYC intends to use the funds to grow its financial and Web3 ecosystem and speed up adoption of its yen-pegged stablecoin.
Why it matters
JPYC notes that integrating its stablecoin with AZ-COM’s logistics network could enable onchain finance linking commercial, logistics, and payment flows. This suggests a potential use case for stablecoins in operational payment systems within logistics, which could impact how stablecoin adoption expands in Japan.
Key context
JPYC announced a similar funding milestone of about 5 billion yen in May before this extension. Reports from Nikkei indicated AZ-COM was considering investing more than 1 billion yen and exploring stablecoin payments for roughly 2,300 delivery partners and contractors. No financial terms of the investment or strategic alliance were disclosed.
Key numbers and entities
JPYC is the yen stablecoin issuer. The Series B funding round has reached approximately 6 billion yen ($38 million) total. AZ-COM Maruwa Holdings is the new investor. About 2,300 delivery partners and contractors may be involved in stablecoin payment use cases based on earlier reporting.
What remains unclear
JPYC has not disclosed the exact amount raised in the extension or AZ-COM’s precise investment size. Financial terms of the capital and business alliance remain undisclosed. Cointelegraph contacted JPYC for further details on the investment and partnership applications but had not received a response at publication.