Japanese logistics firm AZ-COM Maruwa Holdings will adopt the JPYC stablecoin to pay 2,300 business partners, marking the first large-scale corporate use of the yen-pegged coin in Japan. The move aims to combat labor shortages by offering faster, fee-free payments to contractors. The company is also considering a partnership with JPYC Inc. that includes a potential investment of over 1 billion yen.
AZ-COM Maruwa JPYC adoption
- ▪AZ-COM Maruwa is considering a partnership with JPYC Inc. that includes a potential investment of over 1 billion yen ($6.2 million)
- ▪AZ-COM Maruwa Holdings, a Japanese logistics company, will adopt the JPYC stablecoin for payments to its business partners
- ▪The adoption is expected to be the first large-scale corporate use of the JPYC stablecoin in Japan
- ▪Amazon Japan is one of AZ-COM Maruwa's major customers
Payment use case details
- ▪The JPYC stablecoin will be used to pay fees and compensation to approximately 2,300 business partners and individual contractors, including truck drivers
- ▪Using the JPYC stablecoin allows for faster and more frequent payments because it does not charge transfer fees
- ▪The labor shortage in Japan's logistics industry stems from an aging workforce and stricter overtime regulations for drivers
- ▪By offering faster payments, AZ-COM Maruwa aims to attract more business partners and address labor shortages
JPYC market expansion
- ▪Lawson, Japan's third-largest convenience store chain, is launching a pilot program to allow customers to pay with JPYC
- ▪JPYC is the first yen-pegged stablecoin to be officially registered in Japan
- ▪JPYC's on-chain circulation has surpassed 2 billion yen ($12.3 million)
Competing yen stablecoins
- ▪SBI Group launched JPYSC in June, the country's first trust bank-backed yen stablecoin
- ▪Japanese megabanks MUFG, SMBC, and Mizuho plan to launch a jointly issued stablecoin for commercial transactions during fiscal year 2026
Story comments
Loading comments…