AZ-COM Maruwa Holdings, a major logistics services company in Japan, will adopt the JPYC stablecoin for payments to business partners. According to a report from Nikkei Asia, the company plans to use the stablecoin to pay fees and salaries to roughly 2,300 business partners and individual contractors, including truck drivers. By offering faster payments through JPYC, AZ-COM Maruwa aims to attract more business partners and tackle the labor shortage issue, which stems from an aging workforce and stricter overtime regulations for drivers. This marks the first large-scale corporate use of JPYC, the first yen-pegged stablecoin officially registered in Japan.
AZ-COM Maruwa Adopts JPYC Stablecoin for Partner Payments
AZ-COM Maruwa Holdings will use JPYC to pay fees and salaries to approximately 2,300 business partners and individual contractors, including truck drivers, according to Nikkei Asia. The report stated this represents the first large-scale corporate use of JPYC, which is the first yen-pegged stablecoin officially registered in Japan. AZ-COM Maruwa is also reportedly considering a partnership with JPYC Inc. that would be accompanied by a 1 billion yen ($6.16 million) investment.
Labor Shortage Drives Stablecoin Adoption
The logistics company's adoption of JPYC addresses Japan's labor shortage in the transportation sector. Nikkei reported that the shortage stems from an aging workforce and stricter overtime regulations for drivers. AZ-COM Maruwa aims to attract more business partners by offering faster payment processing through the stablecoin.
JPYC Expands Market Presence Since October Launch
Since its launch last October, JPYC has expanded its local market presence by growing its partnerships. JPYC recently announced that its onchain circulation has surpassed 2 billion yen ($12.3 million). Earlier this month, Nikkei reported that Lawson, Japan's third-largest convenience store chain, is launching a pilot to allow customers to pay with JPYC. Metaplanet Ventures, the investment subsidiary of the bitcoin treasury company, deployed 400 million yen ($2.46 million) into JPYC Inc.'s Series B financing round in March.
Japan's Megabanks Enter Stablecoin Competition
Japan's traditional institutions have also joined the stablecoin race. SBI Group launched JPYSC in June as the country's first trust bank-backed yen stablecoin. Three local megabanks --- MUFG, SMBC, and Mizuho --- announced plans last month to begin live commercial transactions of a jointly issued stablecoin during fiscal year 2026.
FAQ
What did AZ-COM Maruwa Holdings announce about JPYC stablecoin?
AZ-COM Maruwa Holdings, a major logistics services company in Japan, will adopt the JPYC stablecoin for payments to roughly 2,300 business partners and individual contractors, including truck drivers. The company is also reportedly considering a partnership with JPYC Inc. accompanied by a 1 billion yen ($6.16 million) investment.
Why is AZ-COM Maruwa adopting JPYC stablecoin for payments?
According to Nikkei Asia, AZ-COM Maruwa aims to attract more business partners and tackle the labor shortage issue by offering faster payments through JPYC. The labor shortage stems from an aging workforce and stricter overtime regulations for drivers in Japan's transportation sector.
How much circulation does JPYC stablecoin have?
JPYC recently announced that its onchain circulation has surpassed 2 billion yen ($12.3 million). JPYC launched last October and is the first yen-pegged stablecoin officially registered in Japan.
