JPYC Secures $38 Million in Series B Funding from AZ-COM Maruwa

JPYC Inc. has successfully secured 6 billion yen (about $38 million) in an extension of its Series B funding round, which is focused on expanding its yen-pegged stablecoin offerings.

The funding increase brings JPYC's total capital raised to $106 million over seven rounds since November 2021.

AZ-COM Maruwa Holdings, a well-known logistics company in Japan, is among the new investors in this funding round.

AZ-COM plans to integrate JPYC for payments to its clients, which include major corporations like Amazon Japan. The company operates a network of approximately 2,300 partners, including subcontractors and drivers, facilitating the use of stablecoins in everyday business transactions across Japan.

JPYC stands out as a leading stablecoin linked to the Japanese yen, with a current market capitalization of $55.5 million, as reported by CoinGecko.

Stablecoins are digital currencies designed to maintain a stable value by being pegged to traditional financial assets, usually fiat currencies. While the stablecoin market is predominantly influenced by U.S. dollar-pegged tokens, the yen stablecoin sector is gradually gaining traction, supported by growing acceptance from some of Japan's largest financial institutions, although it still lags behind the USD market.