Japanese stablecoin issuer JPYC has completed an extension of its Series B funding round. The cumulative total for the round has reached approximately 6 billion yen, which is about $38 million. claim:1
This extension increases the total raised in the Series B round by approximately 1 billion yen from the 5 billion yen previously announced in May. claim:5
Cumulative total of JPYC's Series B funding round
The Japanese logistics group AZ-COM Maruwa Holdings joined the Series B round as a new investor. claim:3
JPYC did not disclose the exact amount raised through the extension or the specific size of the investment from AZ-COM Maruwa Holdings. claim:4
Logistics and stablecoin integration
The financial terms regarding the capital and business alliance between JPYC and AZ-COM Maruwa Holdings were not provided by the company. claim:6
Nikkei reported on July 20 that AZ-COM Maruwa Holdings was considering an investment of more than 1 billion yen in JPYC. claim:7
AZ-COM Maruwa Holdings was exploring the use of the JPYC stablecoin to pay approximately 2,300 delivery partners and contractors. claim:8
Combining its stablecoin with AZ-COM Maruwa Holdings' logistics network could support onchain finance.
JPYC plans to use the proceeds from the funding to expand its financial and Web3 ecosystem and accelerate the adoption of its yen-pegged stablecoin. claim:2
