JPYC Raises $38M as Yen Stablecoin Rolls Out to Truck Drivers

JPYC Inc., the company behind Japan’s first fully regulated yen-pegged stablecoin, has extended its Series B funding round to roughly 6 billion yen, or about $38 million. The latest investment includes approximately 1 billion yen ($6.3 million) from AZ-COM Maruwa Holdings, a Tokyo-listed logistics heavyweight whose clients include Amazon Japan.

JPYC’s stablecoin is designed to mirror the Japanese yen one-for-one and became the first digital currency registered under Japan’s amended Payment Services Act as an official electronic payment instrument in October 2025. This registration requires JPYC to meet strict government rules on reserves, redemptions, and consumer safeguards. Every JPYC token is backed by yen bank deposits and Japanese government bonds, allowing holders to convert coins into ordinary yen at any time. The company earns interest from reserves rather than charging transaction fees, enabling cheap or free transfers.

The partnership with AZ-COM Maruwa moves JPYC beyond mere investment announcements. The logistics company plans to pay roughly 2,300 business partners and independent contractors—mainly truck drivers and subcontractors—for transportation work and outsourcing charges. This marks one of the first corporate uses of a yen stablecoin for routine payment operations in Japan.

Japan’s trucking sector faces a severe driver shortage due to an aging workforce and new overtime limits introduced in 2024. AZ-COM Maruwa executives argue that faster, cheaper JPYC settlements could support more frequent contractor payments and improve worker retention, while bank transfers remain slower, fee-heavy, and restricted to limited processing windows.

The companies plan to connect payments with delivery confirmation records, potentially using GPS tracking or smart contracts that automatically release funds when conditions are met. This setup could eliminate manual invoicing and reduce administrative costs. AZ-COM Maruwa is also developing a dedicated wallet application for the payments.

Japan’s government is increasingly promoting onchain finance, where blockchain payments integrate with commercial and logistics records. JPYC aims to grow its circulating supply to trillions of yen over several years, though its current circulating value stands at about $55.47 million.

JPYC faces competition from SBI Group’s trust-backed yen stablecoin and a joint project from Japan’s three megabanks: MUFG, SMBC, and Mizuho. JPYC has also tested payments at Lawson convenience stores to gauge consumer adoption.

Previous Series B investors included Metaplanet Ventures, which committed 400 million yen in March. The real test will be how quickly AZ-COM Maruwa activates payments, whether other logistics and retail companies follow suit, and how regulators and megabanks respond as Japan’s stablecoin race accelerates through 2026.

Source: https://news.bitcoin.com/crypto-news/jpyc-raises-38m-as-yen-stablecoin-rolls-out-to-truck-drivers/