Japan’s JPYC stablecoin issuer raises $38M, AZ-COM joins as partner

JPYC Inc., the Japanese issuer of the yen-pegged stablecoin of the same name, closed an extension of its Series B round on August 5, 2026, bringing the cumulative total of the series to roughly 6 billion yen, or $38 million. The deal is highlighted by the entry of AZ-COM Maruwa Holdings, a logistics group listed on the Tokyo Stock Exchange, as a strategic partner.

AZ-COM Maruwa, first large-scale deployment in Japan

The new backer is no ordinary venture fund. AZ-COM Maruwa Holdings, listed in Tokyo under code 9090, is investing 1 billion yen (about $6.3 million) into JPYC, according to data reported by CryptoFund Insider. The check converts the financing round into an industrial partnership: the logistics company plans to use the JPYC stablecoin to settle payments with roughly 2,300 commercial partners, including subcontractors, couriers and truck drivers. Amazon Japan sits among AZ-COM’s customer base.

CoinDesk framed the move as the first large-scale use of a stablecoin for day-to-day business operations in Japan. The two firms intend to combine JPYC’s on-chain settlement with AZ-COM’s extensive logistics network to build an integrated system linking commerce, the physical movement of goods, and value transfer on the blockchain.

The pitch emphasizes the speed of transfers and the low — or zero — fees of the stablecoin, enabling more frequent payouts than traditional banking rails (Japanese bank transfers typically clear in T+1 or T+2). AZ-COM executives tied these efficiencies to Japan’s structural challenges: an aging population, labor shortages and tighter overtime regulations.

A Series B that keeps growing

The exact size of the extension has not been disclosed by JPYC. However, Nikkei reported on July 20 that AZ-COM was considering an investment above 1 billion yen. Adding that contribution to the previously announced 5 billion yen total from May 2026 lands on the 6 billion yen figure JPYC has now confirmed — equivalent to $38 million at the exchange rate used for the deal.

According to Tracxn data, JPYC has raised $106 million in total across seven funding rounds since November 2021, from 19 institutional investors. The company, founded in 2019 and headquartered in Chiyoda City, employs 29 people.

Proceeds will accelerate the expansion of JPYC’s financial and Web3 ecosystem, reinforce stablecoin issuance and redemption infrastructure, and support partner applications. The company also flagged strategic opportunities to accelerate the « social implementation of the yen stablecoin » in Japan.

A favorable regulatory framework

JPYC’s launch in October 2025 was no accident: the firm had secured its registration as a funds transfer service provider under Japan’s regime, which requires full backing by yen deposits and Japanese government bonds, plus a 1:1 redemption right against fiat yen.

This regulatory compliance sets JPYC apart from several foreign competitors. Japan’s stablecoin market features 317 active players, according to CoinGecko, where JPYC ranks 7th with a market cap of $55.5 million. Direct competitors include Circle (USDC), Terra and KAST.

« The instant transfers and low or zero fees of the stablecoin let us accelerate settlements and offer more frequent payouts to our partners, which has become essential given labor shortages and new overtime rules. »

AZ-COM Maruwa Holdings executive

The Japanese government also embedded an explicit priority for « on-chain finance » in its « Basic Policy on Economic and Fiscal Management and Reform 2026, » adopted in July. The text envisions programmable links between stablecoin settlements and commercial and logistics data flows on blockchain networks — precisely the use case JPYC and AZ-COM are beginning to industrialize.

Multi-chain footprint and retail use cases

JPYC is currently live on four blockchains: Ethereum, Polygon, Avalanche and Kaia, with additional chain expansions under consideration. The firm highlights several use cases: on-chain services, salary and rewards distribution, and eventual ATM withdrawals.

Pilots are already running, including with convenience store chain Lawson and several retailers exploring in-store stablecoin acceptance. In-store payment schemes began operating in 2026, building on existing rails such as credit cards and Web3 wallets.

Conclusion

With this Series B extension, JPYC consolidates its lead in the race for Japan’s sovereign stablecoin. The strategy is clear: turn JPYC into the reference payment infrastructure for domestic firms, starting with logistics. The partnership with AZ-COM Maruwa Holdings, backed by 2,300 commercial partners, serves as a large-scale proof of concept and could set a template for other labor-intensive sectors (construction, delivery, personal services).

Two scenarios are taking shape. In a bullish case, the regulatory green light expected on stablecoin-denominated bonds — targeted for 2026 — opens the door to industrial-scale volumes and a rapid rise in market cap, currently capped at $55.5 million. In a cautious case, multi-chain fragmentation and competition from foreign issuers (USDC, plus Asian initiatives) could slow JPYC’s ramp-up. Either way, the August 5, 2026 transaction marks a turning point: the yen stablecoin is moving out of experimentation and into mainstream B2B payments.

Sources

• The Block — JPYC raises $38M
• Tracxn — JPYC funding profile
• TradingView / Cointelegraph — JPYC Series B reaches $38M
• KuCoin News — JPYC extended Series B
• CrowdFund Insider — JPYC additional Series B funding
• CoinDesk — JPYC raises $38M led by AZ-COM Maruwa

This article is for informational and educational purposes only. It does not constitute investment advice. Do your own research (DYOR) before making any decision.