Japan · The Block
Since its launch last October, JPYC has expanded its local market presence by growing its partnerships
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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.
Key facts
- According to a report from Nikkei Asia, AZ-COM Maruwa plans to use the stablecoin to pay fees and salaries to roughly 2,300 business partners and individual contractors, including truck drivers
- AZ-COM Maruwa Holdings, a major logistics services company in Japan, will adopt the JPYC stablecoin for payments to business partners
- Japan's traditional institutions have also joined the stablecoin race, with SBI Group launching JPYSC in June as the country's first trust bank-backed yen stablecoin
- 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
Summary
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, AZ-COM Maruwa plans to use the stablecoin to pay fees and salaries to roughly 2,300 business partners and individual contractors, including truck drivers. The report said this will be the first large-scale corporate use of JPYC, which is the first yen-pegged stablecoin officially registered in Japan. 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, Nikkei reported. Since its launch last October, JPYC has expanded its local market presence by growing its partnerships.