Japanese logistics firm to pay drivers in yen-backed JPYC
AZ-COM Maruwa Holdings will pay about 2,300 contractors, including truck drivers, in JPYC, a yen-backed stablecoin, to speed settlement and cut transfer fees.
AZ-COM Maruwa Holdings, a mid-sized Japanese logistics operator that counts Amazon Japan as a customer, will begin paying roughly 2,300 business partners in JPYC, a stablecoin denominated in Japanese yen. The company plans to use the token to cover fees and compensation for individual contractors who provide hauling and delivery services.
The rollout is intended to allow faster and more frequent payments because JPYC transfers do not incur traditional bank transfer fees. AZ-COM Maruwa expects the change to reduce transfer costs for its partner network and make payouts more predictable for drivers and small operators.
Company officials are considering a closer partnership with JPYC and an investment of more than 1 billion yen (about $6.2 million) in related initiatives. The arrangement would be among the first large-scale corporate uses of a yen-denominated stablecoin in Japan to distribute routine payments to a wide network of individual contractors.
Noritaka Okabe, founder and CEO of JPYC Inc., wrote in a statement: “We will continue to advance the integration of logistics and commercial payment flows with JPYC.”
The plan follows tests and partnerships by stablecoin issuers and financial firms in Japan that are exploring instant yen-based token purchases and settlements.
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