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Amazon Japan supplier AZ-Com Maruwa to adopt yen stablecoin JPYC for payments
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Amazon Japan supplier AZ-Com Maruwa Holdings plans to adopt the regulated yen stablecoin JPYC for payments to its network of about 2,300 business partners, including subcontractors and truck drivers. The Tokyo-listed logistics firm, which reported 230.5 billion yen ($1.4 billion) in revenue for the fiscal year ended March, has been providing delivery services for Amazon Japan since 2017. This move marks the first large-scale corporate use of a stablecoin in day-to-day operations in Japan, signaling growing mainstream adoption of tokenized assets despite a lingering bear market in cryptocurrencies.
JPYC is Japan's first fully regulated yen-pegged stablecoin, issued by Tokyo-based fintech firm JPYC Inc. under the Payment Services Act. It debuted in October last year and maintains a strict 1:1 peg to the yen, backed entirely by bank deposits and Japanese government bonds. As of last week, its onchain circulation had surpassed 2 billion yen, indicating increasing trust and usage.
AZ-Com Maruwa aims to leverage JPYC to facilitate faster cash flow to drivers and small carriers, addressing Japan's labor shortages, aging workforce, and stricter overtime regulations. The company hopes that near-instant and free conversions to yen via stablecoins will make contracting work more attractive. According to Nikkei Asia, the company is also considering a formal business partnership with JPYC issuer and a 1 billion-yen investment in the token.
This development follows last week's news that Japanese convenience store giant Lawson will pilot JPYC payments at its Takanawa Gateway City store in Tokyo from early August. The Lawson pilot and AZ-Com's plan signal rapid mainstream momentum for regulated stablecoins in Japan, moving from consumer retail experiments to large-scale B2B corporate payments in just days.
Industry analysts view this as a significant step toward wider adoption of stablecoins in Japan's economy, potentially reducing transaction costs and improving efficiency in supply chain payments. The move also highlights the country's proactive regulatory framework for digital currencies, which has encouraged innovation while ensuring investor protection.
Looking ahead, AZ-Com's initiative could pave the way for other logistics and service companies to adopt stablecoins for supplier payments. As Japan continues to grapple with labor shortages, digital payment solutions like JPYC may play a crucial role in modernizing the economy and attracting younger workers. The success of this pilot will be closely watched by both domestic and international markets.
