JPYC closes Series B at cumulative ~¥5B (~$33M)
What's the deal? JPYC, the Tokyo-based issuer of a Japanese yen-pegged stablecoin, has closed its Series B round at a cumulative ~¥5B (roughly $33M). The company plans to use the funds to scale its ecosystem across both traditional finance and web3 — investing in systems development, hiring, B2B payment infrastructure, and strategic partnerships.
New investors in the round include Life Design FundDealroom has a profile for this one. Try Dealroom →, IHD Strategy Fund, Awagin Mirai Sozo Fund, and Meiji Yasuda Mirai Kyoso Fund — a mix that notably includes regional bank-affiliated vehicles.
Why now? JPYC launched its stablecoin in October 2025 after registering as a licensed money transfer business in August that year. In just seven months, the token has hit ¥2.5B in cumulative issuance and over ¥35B in total transaction volume — a daily asset turnover rate above 100%, suggesting the coin is actively used for payments and transfers rather than sitting idle.
The company recently added support for the Kaia blockchain, bringing its multi-chain footprint to four networks (Ethereum, Polygon, Avalanche, and Kaia), with a fifth under consideration. It also secured adoption by LINE NEXT's web3 wallet "Unifi," plugging into LINE's 100-million-strong user base across Asia.
In-store payment pilots have begun in 2026, marking JPYC's push from online-native crypto use cases into physical retail.
What could go wrong? Stablecoin regulation in Japan is still evolving. While JPYC holds a money transfer licence, stricter rules could limit how and where the token is used. Competition is also a factor: major Japanese banks and fintech players are exploring their own digital yen solutions.
The token's impressive turnover metrics, while eye-catching, could partly reflect speculative or circular trading rather than pure commercial adoption. Proving real-world payment traction at scale — especially in physical retail — remains the harder test.
The signal: The investor mix here is telling — behind the fund names sit entities like Meiji Yasuda Life InsuranceDealroom has a profile for this one. Try Dealroom →, one of Japan's largest insurers, and regional bank-affiliated vehicles such as Awagin Mirai Sozo Fund. That traditional financial incumbents are backing a "breakout"-stage stablecoin issuer rather than building competing products suggests they see licensed crypto-native infrastructure as a faster route to digital yen rails than internal development. With ¥35B in transaction volume already flowing through just 18,000 accounts, JPYC's near-term trajectory will hinge on whether the LINE integration can shift that user base from thousands to millions.
Read more: prtimes.jp
