Japanese yen stablecoin issuer JPYC has completed the first close of its Series B round, raising ¥1.78 billion (around $12 million) led by Asteria Corporation, a Japanese IT solutions provider. The fundraise signals a broadening of interest beyond the crypto sector, with most backers drawn from corporate Japan rather than the digital asset industry.
JPYC launched in October 2025 as the first stablecoin issued under Japan’s regulatory framework for fund transfer businesses, and remains the only onshore stablecoin. The investor list reflects that positioning. While BitFlyer Holdings, Japan’s largest crypto exchange, is among the backers, the syndicate is dominated by corporate and fund investors, including vehicles linked to Meiji Yasuda Life Insurance and West Japan Railway.
That mainstream orientation is mirrored in where JPYC is finding traction. The company has an existing partnership with Densan Systems, the payment infrastructure provider serving Japan’s network of over 65,000 convenience stores. Known as konbini payments, these stores are widely used by Japanese consumers to pay utility bills and settle e-commerce orders in cash, the third most popular e-commerce payment format among Japanese women. Together, the two companies are exploring stablecoin use for domestic payments, cross border remittances, and tourism applications. On the cross border front, it is a participant in Circle’s StableFX, a request for quote foreign exchange system for stablecoins.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
