JPYC Raises 2.8 Billion Yen in Series B Round With Metaplanet Among Investors

Source

Uk Jin

Summary

JPYC said it plans to raise about 2.8 billion yen (about $18.2 million) through its Series B funding round.
That would bring JPYC's cumulative funding to about 4.6 billion yen (roughly $29.9 million).
The funding round included NCB Venture Capital, TechMira Holdings, Metaplanet, Canal Ventures, Sumisei Innovation Fund and Hokkaido Bank.

Forecast Trend Report by Period

Photo: JPYC logo

JPYC, the issuer of the yen-backed stablecoin of the same name, has completed a Series B funding round.

Nadha News reported on April 20 that the company plans to raise 2.8 billion yen, or about $18.2 million, in the round. That would bring its cumulative funding to about 4.6 billion yen, or roughly $29.9 million.

Investors in the round included NCB Venture Capital, TechMira Holdings, Metaplanet, Canal Ventures, Sumisei Innovation Fund and Hokkaido Bank.

JPYC plans to use the proceeds for system and application development, hiring to support business expansion, businesses related to stablecoin issuance, redemption, settlement and management, and strategic investments in new growth opportunities.

JPYC