Home›Crypto›Stablecoins›Maruwa Holdings plans JPYC stablecoin payments to cont…

Maruwa Holdings plans JPYC stablecoin payments to contractors

The Japanese logistics firm is targeting payments to about 2,300 business partners using the yen-denominated JPYC for faster, more frequent payouts without transfer fees.

Reported · Written up by our desk · Stablecoins

Japanese logistics firm AZ-COM Maruwa Holdings is planning to adopt the yen-denominated JPYC stablecoin to pay transportation contractors, aiming to make it one of the first large-scale corporate uses of the digital yen in Japan, according to Cointelegraph.

The rollout would cover payments to around 2,300 business partners, including individual contractors such as truck drivers. The company expects the stablecoin to enable faster and more frequent payments because it does not charge transfer fees, and it would be used for fees and compensation related to transportation work.

Cointelegraph also reports that AZ-COM Maruwa is considering a partnership with JPYC and an investment of more than 1 billion Japanese yen, about $6.2 million.

Maruwa is a mid-sized Japanese logistics company with Amazon Japan among its major customers, and JPYC founder Noritaka Okabe said the plan is to further integrate logistics and commercial payment flows with JPYC.

More like this

Sources