JPYC Inc., the operator of Japan's first fully regulated yen-pegged stablecoin, has raised approximately $38 million (6 billion yen) in an extended Series B funding round. The latest tranche includes about 1 billion yen ($8.8 million) from a logistics company that plans to roll out the stablecoin to truck drivers as a payment method.
Who invested and why
The extended Series B brings JPYC's total raise to roughly $38 million. The newest investor is a logistics firm — the facts do not name the company — that sees the stablecoin as a way to streamline payments for drivers. Trucking in Japan has long relied on cash, and the industry faces pressure to digitize payments while cutting administrative costs.
How the stablecoin works
JPYC operates a yen-pegged stablecoin that is fully regulated under Japanese law. That means each token is backed one-to-one by yen held in trust accounts, and the issuer must comply with the country's Payment Services Act. The company says the stablecoin can be used for remittances, e-commerce, and now logistics payments.
The logistics investor will begin testing the stablecoin with a group of truck drivers in the coming months. If the pilot succeeds, the company plans to expand the payment system across its fleet. JPYC will use the fresh capital to build out its infrastructure and pursue additional partnerships in the transportation sector.
