Japan’s logistics sector just handed the country’s stablecoin industry its biggest real-world test yet. AZ-COM Maruwa Holdings, one of Japan’s prominent third-party logistics providers, has announced plans to use JPYC to compensate its drivers and is backing that commitment with a ¥1 billion investment in the stablecoin itself.
What JPYC actually is
JPYC maintains a 1:1 peg to the Japanese yen and is fully backed by yen deposits and Japanese government bonds. JPYC launched on October 27, 2025, becoming the first yen-backed stablecoin approved by Japan’s Financial Services Agency under the country’s Payment Services Act. The token runs on multiple blockchain networks, including Ethereum, Avalanche, and Polygon. Holders can redeem it 1:1 through the JPYC EX platform, and the project already counts Sony Bank and Densan System among its strategic partners.
By early 2026, cumulative issuance of JPYC had reached approximately ¥1 billion to ¥1.3 billion. AZ-COM’s ¥1 billion investment is roughly equal to the entire existing supply of the token.
Why a logistics company is the one doing this
