Summary
Japanese logistics giant AZ-COM Maruwa Holdings, the company that carries the bulk of Amazon Japan's last-mile deliveries, plans to introduce the yen-backed JPYC stablecoin for payments to approximately 2,300 partner carriers and independent drivers. The company will invest ¥1 billion ($6.7M) in JPYC and form a business partnership with the stablecoin issuer, in what is expected to become Japan's first large-scale corporate use of a regulated yen stablecoin.
The rollout would move JPYC beyond retail tests and crypto services into routine business payments across a nationwide logistics network. Instead of routing carrier settlements through traditional bank rails, AZ-COM Maruwa plans to send digital yen directly to wallets of delivery partners, shortening the wait between delivery runs and money hitting usable wallets. JPYC began issuing its regulated yen-backed stablecoin on October 27, 2025, maintaining a 1:1 link with the yen using bank deposits and Japanese government bonds as reserve assets.
Key Facts
- AZ-COM Maruwa: third-party logistics operator; Amazon Japan's primary last-mile delivery partner
- Scale: ~2,300 transport contractors and independent drivers
- Investment: ¥1 billion ($6.7M) in JPYC Inc.
- JPYC: yen-pegged stablecoin; 1:1 backed by bank deposits and JGBs
- JPYC launched: October 27, 2025; regulated under Japan's Payment Services Act
- On-chain circulation: crossed 2 billion yen in July 2026
- JPYC EX accounts: ~19,000
- JPYC's 3-year goal: 10 trillion yen ($65B) in circulation
- Other JPYC initiatives: Lawson POS trial (August 2026), Metaplanet Bitcoin-backed credit, LINE NEXT Unifi Pay
- Japan FSA: tightening bond rules for stablecoin reserves as adoption grows
Why It Matters
AZ-COM Maruwa's JPYC rollout is the most significant test yet of whether a regulated yen stablecoin can work in everyday business settlement. Unlike consumer pilots, this involves thousands of businesses and independent drivers receiving payments through the same stablecoin system. If successful, it could establish a template for B2B stablecoin payments across Japan's logistics and supply chain sectors, which Japanese authorities and industry participants have flagged as central to broader stablecoin adoption.