AZ-COM Maruwa Holdings, a major logistics services company in Japan, will adopt the JPYC stablecoin for payments to business partners.
According to a report from Nikkei Asia, AZ-COM Maruwa plans to use the stablecoin to pay fees and salaries to roughly 2,300 business partners and individual contractors, including truck drivers.
The report said this will be the first large-scale corporate use of JPYC, which is the first yen-pegged stablecoin officially registered in Japan. AZ-COM Maruwa is also reportedly considering a partnership with JPYC Inc. that would be accompanied by a 1 billion yen ($6.16 million) investment.
By offering faster payments through JPYC, AZ-COM Maruwa aims to attract more business partners and tackle the labor shortage issue, which stems from an aging workforce and stricter overtime regulations for drivers, Nikkei reported.
Growing adoption
