JPYC said it plans to use the new capital to expand its financial and Web3 ecosystem and accelerate adoption of its yen-pegged token.
Japanese yen stablecoin issuer JPYC has completed an extension of its Series B funding round, bringing the round’s cumulative total to about 6 billion yen ($38 million).
On Wednesday, the company said Japanese logistics group AZ-COM Maruwa Holdings joined the round as a new investor. JPYC said it plans to use the proceeds to expand its financial and Web3 ecosystem and accelerate the adoption of its yen-pegged stablecoin.
JPYC did not disclose the exact amount raised through the extension or the size of AZ-COM’s investment. However, the round’s cumulative total increased by about 1 billion yen from about 5 billion yen announced in May. It also did not provide financial terms for the companies’ capital and business alliance.
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