A Japanese logistics company that counts Amazon Japan as a customer 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 ended 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.
The move marks the first large-scale corporate use of a stablecoin in day-to-day operations in Japan, signaling that mainstream adoption of tokenized assets continues to expand even as broader cryptocurrency valuations remain muted in a prolonged bear market.
JPYC is Japan’s first fully regulated yen-denominated stablecoin, and is issued by Tokyo-based fintech firm JPYC Inc. The stablecoin debuted last October under the Payment Services Act and maintains a strict 1:1 peg to the yen. It is 100% backed by bank deposits and Japanese government bonds. As of last week, its onchain circulation had exceeded ¥2 billion.
