Japanese logistics firm explores JPYC stablecoin to pay drivers
Japanese logistics company AZ-COM Maruwa Holdings plans to use the JPYC stablecoin to pay about 2,300 transportation contractors, marking what could become Japan’s first large-scale corporate use of a yen-denominated stablecoin.
According to a Nikkei report, the company plans to use JPYC to pay transportation fees and compensation to independent contractors, including truck drivers. Because stablecoin transfers do not carry traditional bank transfer fees, the system could enable faster and more frequent payouts.
AZ-COM Maruwa is also considering investing more than 1 billion yen ($6.2 million) in JPYC and forming a broader partnership with the stablecoin issuer.
AZ-COM Maruwa is a major logistics provider in Japan and counts Amazon Japan among its key customers.
”We will continue to advance the integration of logistics and commercial payment flows with JPYC,” said Noritaka Okabe, founder and CEO of JPYC Inc.
Featured image from: cointelegraph.com