Japan’s AZ-COM Maruwa Plans JPYC Payments for 2,300 Partners

AZ-COM Maruwa Holdings, a major Japanese logistics company, plans to use yen-denominated stablecoin JPYC to make payments to about 2,300 partner companies.

Nikkei reported on July 20 that the company will use JPYC to pay fees and compensation to sole proprietors and partner firms involved in transport work, including truck drivers. The move would mark the first large-scale use of JPYC for business-to-business payments in Japan.

AZ-COM Maruwa expects JPYC to help it make payments faster and more frequently while avoiding remittance fees.

The company is also considering investing more than 1 billion yen ($6.2 million) as part of a business alliance with JPYC, according to the report. AZ-COM Maruwa counts Amazon Japan among its main clients.

JPYC founder and Chief Executive Officer Noritaka Okabe said the company will keep working through JPYC to integrate payment flows across logistics and commerce.