CumberlandThe Japanese logistics firm plans to pay 2,300 partners, including truck drivers, using JPYC in Japan’s first large-scale corporate stablecoin rollout.
Amazon Japan supplier AZ-Com Maruwa to adopt yen stablecoin JPYC for payments
The Japanese logistics firm plans to pay 2,300 partners, including truck drivers, using JPYC in Japan’s first large-scale corporate stablecoin rollout.
AZ-COM Maruwa Holdings, a Tokyo-listed logistics firm that distributes products for Amazon Japan, plans to pay about 2,300 partners, including subcontractors and truck drivers, using the regulated yen stablecoin JPYC. Backed 1:1 by yen deposits and Japanese government bonds, JPYC is gaining momentum as both AZ-COM’s plan and a new Lawson convenience store pilot indicate rapid mainstream adoption of regulated stablecoins in Japan.
A Japanese logistics company that counts Amazon Japan as a client plans to settle payments in the regulated yen stablecoin JPYC with business partners, including independent truck drivers, according to a report by Nikkei Asia.
Tokyo-listed AZ-COM Maruwa Holdings (9090), which reported 230.5 billion yen ($1.4 billion) in revenue for the fiscal year ended March, plans to use JPYC for fees and other payments to its network of around 2,300 partners, including subcontractors and truck drivers. The company has been working with Amazon Japan since 2017, providing delivery services for its online shopping operations.
The move marks the first large-scale corporate use of a stablecoin in day-to-day operations in Japan, signaling that mainstream adoption of tokenized assets continues to expand even as broader cryptocurrency valuations remain subdued in a lingering bear market.
JPYC is Japan's first fully regulated yen-pegged stablecoin, and is issued by Tokyo-based fintech firm JPYC Inc. The stablecoin debuted in October last year under the Payment Services Act and maintains a strict 1:1 peg to the yen. It is 100% backed by bank deposits and Japanese government bonds. As of last week, its onchain circulation had surpassed 2 billion yen.
Maruwa's aims to facilitate faster cash flow to drivers and small carriers amid Japan's labor shortages, an aging workforce and stricter overtime regulations, Nikkei Asia said. The company hopes that near-instant and free conversions to yen via stablecoins will make contracting work more attractive.
Nikkei said the company is also considering a formal business partnership with the JPYC issuer and making a 1 billion-yen investment in the token.
This development follows last week's news that Japanese convenience store giant Lawson will pilot JPYC payments at its Takanawa Gateway City store in Tokyo from early August.
The Lawson pilot and AZ-COM’s plan signal rapid mainstream momentum for regulated stablecoins in Japan, moving from consumer retail experiments to large-scale B2B corporate payments in just days.
1Inside Cardano's 'Van Rossum' hard fork, and what it means for users1 hour ago 2Exodus to cut 25% of global workforce in payments shift2 hours ago 3AI compute stocks bounce as Hut 8, IREN land billions in new contracts2 hours ago 4Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock3 hours ago 5Saylor's Strategy raises cash reserves to $3.2 billion, leaving bitcoin holdings unchanged3 hours ago 6Brazil’s securities regulator sets up task force with 60-day deadline for tokenization proposal4 hours ago 7A bitcoin 'volmageddon' may be brewing, key indicator suggests5 hours ago 8Bank of Korea prepares for live CBDC transactions with 9 banks in September5 hours ago 9Crypto market slips even as equities advance. Pump surges on social-media chatter5 hours ago 10Hyperliquid plans to add decentralized prediction markets in upgrade to HIP-46 hours ago
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Why it matters:
CEX trading volumes rose for the first time in five months in June, with spot climbing 15.3% to $1.11T and RWA perpetual volumes surging to a record $311B.
Exodus to cut 25% of global workforce in payments shift
AI compute stocks bounce as Hut 8, IREN land billions in new contracts
Tom Lee's Bitmine slowed ether purchases as it bought back $86 million in stock