Japan · Amazon · Cointelegraph
Japanese logistics firm eyes JPYC stablecoin to pay drivers
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The planned rollout would let thousands of transportation contractors receive digital yen payments more frequently and quickly.
Key facts
- AZ-COM Maruwa is also considering a partnership with JPYC and an investment of over 1 billion Japanese yen ($6.2 million)
- AZ-COM Maruwa Holdings, a major Japanese logistics company, plans to adopt JPYC to make payments to around 2,300 business partners, in what is expected to be the first large-scale corporate use
- We will continue to advance the integration of logistics and commercial payment flows with JPYC,” said Noritaka Okabe, founder and CEO of JPYC Inc
- AZ-COM Maruwa is a mid-sized Japanese logistics company and counts Amazon Japan among its major customers
Summary
AZ-COM Maruwa Holdings, a major Japanese logistics company, plans to adopt JPYC to make payments to around 2,300 business partners, in what is expected to be the first large-scale corporate use of the yen-denominated stablecoin in Japan. According to a report from Nikkei, JPYC will be used to pay fees and compensation to individual contractors who handle transportation, including truck drivers; the use of the stablecoin will allow faster and more frequent payments, as it does not charge transfer fees. AZ-COM Maruwa is also considering a partnership with JPYC and an investment of over 1 billion Japanese yen ($6.2 million). AZ-COM Maruwa is a mid-sized Japanese logistics company and counts Amazon Japan among its major customers.