Japanese stablecoin issuer JPYC Inc. has raised a total of 6 billion yen ($38 million) in an extended Series B funding round, as the company looks to accelerate adoption of its yen-backed stablecoin amid growing government support for blockchain-based payments and on-chain finance.
On August 5, the company announced the fresh capital will be used to expand the JPYC ecosystem across both traditional finance and Web3, while supporting broader real-world use of the regulated yen-pegged stablecoin.
New logistics investor
The latest extension of the Series B included a 1 billion yen ($6.3 million) investment from AZ-COM Maruwa Holdings, one of Japan’s largest logistics companies. Earlier this year, Metaplanet Ventures invested 400 million yen ($2.52 million) as part of the same funding round.
JPYC said the partnership with AZ-COM Maruwa aligns with Japan’s push toward “on-chain finance,” a concept outlined in the government’s Basic Policy on Economic and Fiscal Management and Reform 2026, approved on July 21. The policy envisions blockchain-based settlements linked with commercial and logistics data through programmable financial infrastructure.
According to JPYC, integrating its stablecoin with AZ-COM Maruwa’s nationwide logistics network could help build payment systems that connect financial transactions with supply-chain operations. That logistics link is central to the pitch: AZ-COM Maruwa said in July it would begin paying salaries and fees in JPYC to roughly 2,300 contracted business partners and individual contractors—a live payroll use case that moves the stablecoin beyond crypto-native users and tests whether on-chain settlement can cut costs and delays in a sector built on invoicing and cross-company payments.
A Regulatory Head Start
Japan’s momentum rests on an early legal foundation. A 2023 revision to the Payment Services Act made yen-pegged stablecoins legally issuable and defined them as Electronic Payment Instruments, giving issuers a framework that many jurisdictions still lack.
JPYC issued Japan’s first registered yen-backed stablecoin in October 2025 — a claim attributed to the company — initially supporting online and Web3 wallet payments before expanding into in-store pilots, including at a Lawson convenience store. In April 2026, the Financial Services Agency (FSA) recognized JPYC as part of Japan’s regulated payments infrastructure.
From launch to growing competition
The field is filling out quickly. JPYC’s latest fundraising efforts are made after a successful year for JPYC.
The company issued Japan’s first registered yen-backed stablecoin in October 2025 that initially supported online and Web3 wallet payments before expanding into in-store payment pilots, including a Lawson convenience store.
The company made significant progress in April 2026, when JPYC was declared a member of Japan’s regulated payments infrastructure by Japan’s Financial Services Agency (FSA).
In June, the SBI Group and Startale Group launched the first Trust Bank-backed Yen stablecoin, JPYSC, targeting institutional and high-value settlements under the country’s Type III Electronic Payment Instrument framework. The two models illustrate a split forming in Japan’s market: JPYC’s payments-and-retail focus on one side and a trust-bank-collateralized, institution-first approach on the other, a divergence that mirrors debates elsewhere over how stablecoin reserves should be held and who they are built to serve.
By July, real-world applications also started to gain traction. The technology provider AZ-COM Maruwa said it will pay salaries and fees using JPYC to around 2,300 contracted business partners and individual contractors. This further points to the growing market adoption of blockchain-based payments that extends beyond the crypto industry.
Focus shifts to broader adoption
With Japanese policymakers increasingly promoting stablecoins as part of the country’s digital financial infrastructure, issuers are shifting their focus from token launches to real-world payment applications.
JPYC said it ultimately aims to support a wider range of services, including salary payments, programmable business transactions and future ATM cash withdrawals, positioning the stablecoin as part of Japan’s evolving payment ecosystem.
The new funding is expected to help the company expand those initiatives as adoption of regulated stablecoins gathers pace across Japan.
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