Japan is poised to see its first large-scale corporate use of a yen-denominated stablecoin, after logistics company AZ-COM Maruwa Holdings unveiled plans to pay around 2,300 business partners using the JPYC token.
The Tokyo-based firm intends to use the privately issued stablecoin – which is pegged to the Japanese yen – to settle transportation-related costs and compensation for individual contractors, including truck drivers, according to a report in the Nikkei business daily.
Because JPYC transfers do not incur traditional bank remittance fees, the company believes it will be able to send payments more quickly and at higher frequency than via standard bank transfers.
If implemented as proposed, AZ-COM Maruwa would become one of the first sizeable Japanese corporations to weave a yen-backed stablecoin into day-to-day business payments, marking a significant step in the country’s digital asset adoption.
JPYC payments planned for thousands of partners
The logistics provider, which counts Amazon Japan among its major customers, plans initially to use JPYC for payments to roughly 2,300 counterparties across its network.
These will include individual drivers and other contractors who provide transportation and related services. Moving such recurring payments on-chain is expected to reduce administrative overhead and cut the time between work being completed and payment being received.
Japan’s corporate sector has largely confined its use of cryptocurrencies to trading, investment and pilot projects to date. The scale and core-operational nature of AZ-COM Maruwa’s proposed rollout makes the initiative notable within the domestic logistics industry and beyond.
Potential JPYC tie-up and billion-yen investment
Alongside the move to stablecoin-based payments, AZ-COM Maruwa is weighing a deeper strategic relationship with JPYC Inc., the company behind the token.
According to the Nikkei report, the logistics group is considering investing more than ¥1bn (about $6.2m) in JPYC Inc., and forming a broader business partnership. No timetable has yet been disclosed for either the payment rollout or any prospective investment and collaboration.
Such a deal would tighten links between a real-economy logistics operator and a regulated stablecoin issuer, potentially creating a template for other Japanese firms looking to integrate blockchain-based settlement into their supply chains.
Shift in Japan’s digital asset rules
The development comes as Japan overhauls its regulatory framework for digital assets to encourage institutional and corporate use of blockchain technology.
Earlier this month, amendments to the Financial Instruments and Exchange Act came into force, reclassifying cryptocurrencies as financial products rather than simple payment means.
As previously reported by crypto.news, the revised rules also:
– Lay the legal foundation for domestic crypto exchange-traded funds
– Introduce insider trading provisions for digital assets
– Prepare the ground for a standalone crypto tax regime, expected to begin in 2028
Policymakers hope that clearer rules will make it easier for financial institutions and corporates to deploy blockchain-based products, including stablecoins and tokenised securities.
Growing institutional interest in on-chain yen
Corporate interest in regulated blockchain payments has been building. Financial services group SBI Holdings has teamed up with the Solana Foundation to launch SBI Solana Global, a venture focused on constructing on-chain financial infrastructure in Japan.
Their roadmap includes supporting yen-denominated stablecoins, tokenised securities and institutional settlement services, suggesting a broader ecosystem is emerging around regulated digital yen instruments.
Within this evolving landscape, companies are increasingly examining how stablecoins can serve as practical payment tools rather than being confined to the realm of speculative crypto trading.
“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.
For AZ-COM Maruwa, the initiative offers the prospect of lower costs and faster payouts in a highly competitive logistics market. For Japan’s regulators and financial sector, it may provide an early real-world test of how a yen-pegged stablecoin operates at scale inside mainstream corporate workflows.
