Japanese logistics company eyes JPYC stablecoin to pay drivers

Adoption Plans

Japanese logistics company eyes JPYC stablecoin to pay drivers. The planned rollout would let thousands of transportation contractors receive digital yen payments more frequently and quickly. AZ-COM Maruwa Holdings, a major Japanese logistics company, plans to adopt the JPYC stablecoin to make payments to around 2,300 business partners, in what is expected to be the first large-scale corporate use of the yen-denominated JPYC stablecoin in Japan.

Faster and More Frequent Payments

According to a report from Nikkei, the stablecoin will be used to pay fees and compensation to individual contractors who handle transportation, including truck drivers, while the use of the stablecoin will allow faster and more frequent payments, as it does not charge transfer fees.

Investment and Partnership

AZ-COM Maruwa is also considering a partnership with JPYC and an investment of over 1 billion Japanese yen ($6.2 million).

Related Development

Related: Sony Bank and JPYC to test instant yen stablecoin buys from customer accounts.

Company Background

AZ-COM Maruwa is a mid-sized Japanese logistics company and counts Amazon Japan among its major customers. “We will continue to advance the integration of logistics and commercial payment flows with JPYC,” said Noritaka Okabe, founder and CEO of JPYC Inc.