TechFlow News, April 20: According to NADA NEWS, JPYC—the issuer and operator of the Japanese yen-pegged stablecoin JPYC—announced it has secured an additional $17.62 million in its second close of Series B funding. Combined with the first close, the total raised is expected to reach approximately $28.93 million. Participating investors include NCB Venture Capital, Metaplanet, Kitao Bank, and Yokohama Capital.
The proceeds from this round will be primarily allocated toward system and application development, hiring talent for business expansion, stablecoin issuance and redemption, trading, payments, management-related operations, and new strategic investments. As of April 15, JPYC reported a cumulative issuance volume exceeding $13.21 million. The stablecoin is currently supported on Avalanche, Ethereum, and Polygon, with plans to add support for Kaia and Arc.
