JPYC has raised $38 million as AZ-COM Maruwa backs stablecoin expansion in Japan

JPYC has raised a total of 6 billion yen ($38 million) through an extended Series B round, adding fresh corporate backing as the Japanese stablecoin issuer expands its payment network and Web3 financial services. Summary JPYC has raised 6 billion yen ($38 million) in an extended Series B round to expand its stablecoin ecosystem. AZ COM Maruwa has invested 1 billion yen and plans to use JPYC for payments to about 2,300 business partners and contractors. JPYC is taking part in Lawson’s stablecoin payment pilot as regulated digital payments gain traction across Japan. Metaplanet has backed JPYC through both its funding round and a joint study on Bitcoin backed tokenized credit products. Japan’s stablecoin market continues to expand as financial institutions and major companies roll out regulated blockchain payment projects. JPYC Inc. announced on Wednesday that the proceeds from the financing will support the expansion of its financial and Web3 ecosystem while accelerating adoption of its regulated yen-backed stablecoin, JPYC. The extended round includes a new investment of 1 billion yen ($6.3 million) from Tokyo-listed logistics company AZ-COM Maruwa Holdings. The latest funding buil...