AZ-Com Maruwa Pays 2,300 Partners With JPYC Yen Stablecoin
In brief
- AZ-Com Maruwa settles 2,300 partner payments using JPYC stablecoin, including truck drivers and subcontractors.
- JPYC is Japan's first regulated yen stablecoin, 100% backed by bank deposits and government bonds.
- Payment acceleration aims to address Japan's labor shortages and aging workforce challenges.
- Maruwa considers 1 billion-yen investment and formal partnership with JPYC Inc.
The stablecoin behind the move
JPYC is Japan's first fully regulated yen-pegged stablecoin, issued by Tokyo-based fintech firm JPYC Inc. The stablecoin debuted in October last year 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 surpassed 2 billion yen.
Why Maruwa is moving now
Maruwa reported 230.5 billion yen ($1.4 billion) in revenue for the fiscal year ended March. The company has been working with Amazon Japan since 2017, providing delivery services for its online shopping operations.
The adoption addresses a specific pain point. Maruwa aims to facilitate faster cash flow to drivers and small carriers amid Japan's labor shortages, an aging workforce and stricter overtime regulations. The company hopes that near-instant and free conversions to yen via stablecoins will make contracting work more attractive.
Speed matters in logistics. Faster settlement means drivers and subcontractors get paid without waiting days for bank transfers.
Next steps
The company is also considering a formal business partnership with the JPYC issuer and making a 1 billion-yen investment in the token. This development follows Lawson's announcement that it will pilot JPYC payments at its Takanawa Gateway City store in Tokyo from early August. Together, these moves signal growing institutional appetite for stablecoins in Japan's payments ecosystem.
