Japanese Logistics Giant To Pay Truck Drivers In JPYC Stablecoin

AZ-COM Maruwa Holdings, a major logistics provider in Japan, is preparing to roll out the JPYC stablecoin to pay roughly 2,300 business partners. The move is being seen as the first large-scale corporate adoption of the yen-pegged token inside Japan.

Faster Payments For Truck Drivers And Contractors

The stablecoin will be used to settle fees and compensation for individual contractors, including truck drivers, who handle the company’s transportation work. Because JPYC transfers don’t carry the fees typically attached to traditional payment rails, the switch is expected to let drivers and partners receive their money faster and more often than the current payment cycle allows.

A Deeper Tie-Up With JPYC

AZ-COM Maruwa is also weighing a broader partnership with JPYC Inc., including an investment topping 1 billion Japanese yen, or around $6.2 million. The logistics firm counts Amazon Japan among its biggest clients and operates as a mid-sized player in the country’s transportation sector.

JPYC Inc. founder and CEO Noritaka Okabe said the company intends to keep building out ties between logistics operations and commercial payment systems through the stablecoin.