JPYC Inc. has successfully raised 6 billion yen ($38 million) through an extended Series B round, as reported by Nikkei. The funding includes a new investment of 1 billion yen ($6.3 million) from Tokyo-listed logistics company AZ-COM Maruwa Holdings. This latest funding brings JPYC's total funding raised to $106 million across seven funding rounds since November 2021, according to venture capital data site Tracxn. The proceeds will support the expansion of its financial and Web3 ecosystem while accelerating adoption of its regulated yen-backed stablecoin, JPYC. The extended Series B typically signals continued scaling after an initial institutional round rather than a fresh strategic pivot, positioning JPYC to keep building rather than restart fundraising. As per AMBCrypto, the funding prioritizes real-world payment infrastructure over token issuance, with AZ-COM Maruwa's investment strengthening this direction by bringing a major logistics company into the ecosystem.
Coming weeks after outlining its payment plans, AZ-COM Maruwa has now become one of JPYC's strategic investors. As reported by Nikkei, the logistics company intends to use JPYC to pay fees and salaries to approximately 2,300 business partners and independent contractors, including truck drivers. The company expects the fee-free stablecoin to support faster settlements and allow more frequent payments than conventional bank transfers. AZ-COM Maruwa also identified quicker payments as a way to strengthen relationships with business partners while responding to labor shortages created by Japan's aging workforce and tighter overtime regulations. The logistics company's major customers include Amazon Japan. The partnership could provide JPYC with a significant real-world corporate use case while demonstrating how stablecoins can improve payment efficiency in sectors dependent on large contractor networks. This marks the first large-scale corporate use of a stablecoin for daily business operations in Japan, with AMBCrypto noting that stablecoin demand may begin to be generated through normal business activities rather than through trading.
Since launching last October as Japan's first registered stablecoin, JPYC has continued moving into commercial payment trials. According to Nikkei, the company is currently participating in a stablecoin payment pilot with convenience store operator Lawson, Japan's third-largest convenience-store chain. The retailer expanded the project this week by adding USDC and USDT alongside JPYC in a second proof-of-concept, while continuing to test direct stablecoin payments through existing point-of-sale registers. Lawson's first trial, scheduled for August 6, uses HashPort Wallet with JPYC at its Takanawa Gateway City store, with a second trial on August 17 allowing participants to pay with JPYC, USDC or USDT through MetaMask. A wider rollout through major retail networks would significantly expand the token's visibility and practical use.
With JPYC circulation now exceeding 2 billion yen, attention is shifting toward how that growing supply can support deeper on-chain finance. However, larger circulation needs sufficient liquidity before JPYC can efficiently connect yen users with DeFi markets. According to CryptoQuant's analyst XWIN, a $1 million pool could process roughly $93,000 while keeping execution costs near 0.5%. With increased liquidity of $3-5 million, it would become practical to process larger swaps, vaults, and limited lending. Additionally, with a $5 million liquidity pool, transaction capacity may grow to nearly $470,000 under the same conditions. The main USDC/JPYC pool currently holds roughly $275,000, supporting modest trades but limiting larger conversions without higher slippage. As per AMBCrypto, deeper USDC liquidity could change this structure by allowing larger two-way conversions at lower costs, potentially allowing yen capital to move more freely into lending and other DeFi markets.
JPYC is now one of the most prominent stablecoins pegged to the Japanese yen with a market cap of $55.5 million, according to data tracked by CoinGecko. The yen stablecoin sector is growing, helped by adoption among some of Japan's largest financial institutions, but remains negligible in the context of the USD-dominated market. Japanese authorities have publicly backed the development of stablecoins and onchain financial services, encouraging financial institutions and companies to test regulated blockchain payment systems. SBI Group entered the market in June with JPYSC, described as Japan's first trust bank-backed yen stablecoin. Meanwhile, MUFG, Sumitomo Mitsui Banking Corporation and Mizuho Bank have been developing a jointly issued yen-backed stablecoin and expect to begin live transactions during fiscal 2026 after completing work on common standards. As per AMBCrypto, enterprise adoption is helping stablecoins move beyond investment tools, becoming part of Japan's everyday payment and settlement infrastructure. Although JPYC's on-chain circulation remains near $18.5 million, enterprise demand is increasingly driving network activity, with rising holder counts and transfer volumes supporting the transition from speculative trading to operational finance.
