JPYC stablecoin circulation reaches 2.83 billion yen

JPYC Inc., the issuer of Japan’s first yen-denominated stablecoin, has reached a total circulation of approximately 2.83 billion yen one year after registering as a funds transfer service provider. The growth has been driven largely by expansion onto the Kaia blockchain, which saw circulation surpass other networks like Polygon.

The company has secured approximately 6 billion yen in cumulative funding through various rounds, including recent support from AZ-COM Maruwa Holdings. This partnership aims to integrate JPYC into logistics payments for approximately 2,300 partner companies. Additionally, JPYC is expanding into physical retail, having conducted successful payment verification tests at Lawson convenience stores using HashPort and MetaMask wallets.

In the niche e-commerce sector, a specialized platform developed by mameta is utilizing JPYC to offer low-cost transactions. The platform features a 1% merchant fee and provides gasless transactions for buyers by absorbing network fees. The service supports a wide range of goods, from agricultural products like Omi rice to digital content, aiming to maximize profits for individual producers and creators.