Yen stablecoin issuer JPYC completes cumulative Series B extension financing of approximately 6 billion yen

TechFlow reports, on August 6, Japanese yen stablecoin issuer JPYC announced the completion of Series B extension financing, with a cumulative total of approximately 6 billion yen raised in this round. The company stated that the funds will be mainly used to expand the finance and Web3 ecosystem and accelerate the real-world adoption of the yen stablecoin "JPYC".

The announcement shows that logistics company AZ-COM Maruwa Holdings Co., Ltd. participated in this round of investment. JPYC believes that the combination of stablecoins and logistics networks is expected to promote the integrated application of "on-chain finance" in commercial, logistics, and fund settlement scenarios. Currently, JPYC has been issued on four blockchains: Avalanche, Ethereum, Polygon, and Kaia.