Japan’s Yen Stablecoin JPYC Raises $38 Million, Led by Logistics Giant
A logistics company that ships packages, not crypto, just became one of the more unusual backers of Japans push into stablecoins.
JPYC, the yen-pegged stablecoin issuer, closed a $38 million Series B extension on August 5, led by major Japanese logistics firm AZ-COM Maruwa, which invested roughly 1 billion yen, about $6.3 million, as part of the round. AZ-COM Maruwa plans to pay its approximately 2,300 business partners and contractors directly in JPYC, and its client base reportedly includes Amazon Japan.
The funding brings JPYCs total raised to $106 million across seven rounds since the companys founding in 2021, a substantial sum for a yen-denominated stablecoin operating in a market still considerably smaller than the dollar-stablecoin space globally.
A logistics company choosing to pay thousands of business partners directly in a stablecoin represents a genuinely practical, high-volume use case for JPYC beyond crypto trading, the kind of real-world payment integration that yen stablecoins have generally lagged behind their dollar-denominated counterparts in demonstrating at scale.
The raise is explicitly framed as aligned with Japans broader July 21 policy shift toward supporting on-chain finance, suggesting JPYCs growth is benefiting from a more favorable regulatory tailwind domestically rather than developing in spite of Japans traditionally cautious approach to crypto regulation.
Want to understand how a yen-pegged stablecoin like JPYC actually maintains its dollar-for-dollar equivalent peg? Learn more in the Bitcoin Academy.