AZ-COM Maruwa Holdings plans to pay around 2,300 business partners and truck drivers using the regulated yen stablecoin JPYC. The Tokyo-listed logistics firm, which has worked with Amazon Japan since 2017, aims to accelerate cash flow amid labor shortages.
The company reported 230.5 billion yen in revenue for the fiscal year ended March. It will use JPYC for fees and other payments to subcontractors and independent drivers in what is described as Japan's first large-scale corporate stablecoin rollout.
JPYC is issued by JPYC Inc. and maintains a 1:1 peg to the yen, backed fully by bank deposits and Japanese government bonds. Circulation exceeded 2 billion yen as of last week.
The logistics firm is considering a formal partnership with the issuer along with a potential 1 billion-yen investment. The move follows a pilot by convenience store chain Lawson at its Takanawa Gateway City store in Tokyo starting in early August.
