JPYC raises approximately 6 billion yen in Series B funding

JPYC Inc., the issuer of the Japanese yen-pegged stablecoin JPYC, has completed a Series B extension round, bringing its total Series B funding to approximately 6 billion yen. The latest extension included a 1 billion yen investment from logistics provider AZ-COM Maruwa Holdings.

JPYC is a stablecoin designed to be exchangeable 1:1 with the Japanese yen, backed by assets such as yen deposits and government bonds. It currently operates on the Avalanche, Ethereum, Polygon, and Kaia blockchains. As of May, the company reported 18,000 accounts, a cumulative issuance of 2.5 billion yen, and total transaction volumes exceeding 35 billion yen.

The company plans to use the funds for system and application development, talent acquisition, and expanding its ecosystem. A key strategic focus involves collaborating with AZ-COM Maruwa Holdings to develop use cases that integrate logistics with blockchain-based payments. This aligns with Japanese government policies promoting ‘on-chain finance’ to link payments with commercial and logistics data.