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