Japan's yen stablecoin issuer JPYC announced on August 6 that it completed a Series B extension round, adding roughly 6 billion yen in new funding. The capital will go toward expanding financial and Web3 ecosystems and accelerating real-world adoption of the JPYC stablecoin. Logistics firm AZ-COM Maruwa Holdings joined the round. JPYC is currently live on Avalanche, Ethereum, Polygon and Kaia.
JPYC, the Japanese issuer behind the yen-backed stablecoin JPYC, said on August 6 that it closed a Series B extension round with roughly 6 billion yen in fresh funding.
The company plans to use the capital to expand across finance and Web3 ecosystems and speed up real-world adoption of the yen stablecoin. Logistics operator AZ-COM Maruwa Holdings Co., Ltd. participated in the round, according to the announcement.
JPYC sees stablecoins tied to logistics networks as a way to push "on-chain finance" into commercial, logistics and settlement use cases. The firm currently issues JPYC on four blockchains: Avalanche, Ethereum, Polygon and Kaia.
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