AZ-COM Maruwa adopts JPYC stablecoin for 2,300 contractor payments

Japan's first large-scale corporate use of a yen-denominated stablecoin will see a logistics provider pay thousands of contractors faster and without transfer fees.

AZ-COM Maruwa Holdings, a mid-sized Japanese logistics company that counts Amazon Japan among its major customers, plans to adopt the JPYC stablecoin to pay fees and compensation to about 2,300 business partners, including individual truck drivers, the Nikkei reported. The company is also considering a partnership with JPYC Inc. and an investment of more than 1 billion yen ($6.2 million).

"We will continue to advance the integration of logistics and commercial payment flows with JPYC," Noritaka Okabe, founder and chief executive officer of JPYC Inc., said in a statement.

JPYC, the first yen-pegged stablecoin officially registered in Japan, launched last October and has since surpassed 2 billion yen ($12.3 million) in onchain circulation, according to the company. Because JPYC transactions do not carry transfer fees, AZ-COM Maruwa expects to process payments more quickly and more frequently than through conventional bank transfers, the Nikkei report said. By offering faster settlements, the firm aims to attract more contractors and address Japan's labor shortage in the logistics sector, which has been exacerbated by an aging workforce and stricter overtime regulations for drivers.

The deployment comes as Japan reshapes its digital asset framework to accommodate institutional blockchain applications. Earlier this month, the country enacted amendments to the Financial Instruments and Exchange Act that classify cryptocurrencies as financial products rather than payment instruments, laying the legal groundwork for domestic crypto exchange-traded funds and introducing insider trading rules for digital assets. A separate crypto tax regime is expected to take effect in 2028.

Stablecoin adoption accelerates across Japan

AZ-COM Maruwa's move is the latest in a wave of stablecoin initiatives by Japanese corporations and financial institutions. Lawson, Japan's third-largest convenience store chain, launched a pilot earlier this month allowing customers to pay with JPYC. Metaplanet Ventures, the investment arm of the bitcoin treasury company, deployed 400 million yen ($2.46 million) into JPYC Inc.'s Series B financing round in March.

Traditional financial institutions have also entered the space. SBI Group launched JPYSC in June as the country's first trust bank-backed yen stablecoin. Three of Japan's largest banks — MUFG, SMBC and Mizuho — announced plans last month to begin live commercial transactions of a jointly issued stablecoin during fiscal year 2026. SBI Holdings and the Solana Foundation recently established SBI Solana Global, a venture focused on building onchain financial infrastructure in Japan, including support for yen-denominated stablecoins and tokenized securities.

The growing corporate interest signals a shift in how Japanese businesses view stablecoins — not as trading instruments but as operational payment tools that can reduce costs and settlement times. For AZ-COM Maruwa, which handles logistics for one of the world's largest e-commerce companies, the ability to pay contractors instantly without bank transfer fees could provide a competitive edge in a tight labor market.

This article is for informational purposes only and does not constitute investment advice.