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 truckers, according to a report from Nikkei Asia.
Tokyo-listed AZ-COM Maruwa Holdings (9090), which reported 230.5 billion yen ($1.4 billion) in revenue for the fiscal year that ended in March, plans to use JPYC for fees and other payments to its network of about 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 daily operations in Japan, indicating that widespread adoption of tokenized assets continues to expand even as broader cryptocurrency valuations remain subdued in a persistent 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 Law and maintains a strict 1:1 peg to the yen. It is backed 100% by bank deposits and Japanese government bonds. As of last week, its chain circulation had exceeded 2 billion yen.
