JPYC raises 38 million dollars in extended Series B funding
Prefer us on GoogleJPYC Inc., a Japanese stablecoin firm, has raised a total of 6 billion yen (38 million dollars) in an extended Series B round. The funding will be used to expand its financial and Web3 ecosystem and accelerate JPYC adoption. The round includes a 1 billion yen (6.3 million dollars) investment from logistics firm AZ-COM Maruwa. AZ-COM plans to use JPYC for payments to approximately 2,300 business partners and contractors. JPYC, launched last October as Japan's first registered stablecoin, is also piloting stablecoin payments at Lawson convenience stores. Japanese authorities are supportive of stablecoin use, prompting traditional institutions to enter the sector, including SBI Group's launch of JPYSC in June.
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