Japanese yen stablecoin issuer JPYC has completed an extension of its Series B funding round, bringing the round\u2019s cumulative total to about 6 billion yen ($38 million).\u00a0<\/p>\n
On Wednesday, the company said<\/a> Japanese logistics group AZ-COM Maruwa Holdings joined the round as a new investor. JPYC said it plans to use the proceeds to expand its financial and Web3 ecosystem and accelerate the adoption of its yen-pegged stablecoin.<\/p>\n JPYC did not disclose the exact amount raised through the extension or the size of AZ-COM\u2019s investment. However, the round\u2019s cumulative total increased by about 1 billion yen from about 5 billion yen announced in May. It also did not provide financial terms for the companies\u2019 capital and business alliance.<\/p>\n On July 20, Nikkei reported that AZ-COM was considering investing more than 1 billion yen<\/a> in JPYC. AZ-COM was exploring the use of the stablecoin to pay about 2,300 delivery partners and contractors.\u00a0<\/p>\n Cointelegraph contacted JPYC for details about the investment and the partnership\u2019s planned applications but had not received a response by publication.<\/p>\n JPYC said Wednesday that combining its stablecoin with AZ-COM\u2019s logistics network could support onchain finance integrating commercial, logistics and payment flows.<\/p>\n Related: <\/strong><\/em>Japan stablecoin payments advance with Lawson trial, Netstars launch<\/strong><\/em><\/a><\/p>\n Related:<\/strong> Bitcoin price<\/a> \u00b7 BTC live chart<\/a> \u00b7 Ethereum price<\/a> \u00b7 ETH gas fee<\/a> \u00b7 Bitcoin price today<\/a> \u00b7 Top 10 cryptocurrencies<\/a><\/p>\n