JPYC has announced a new raise extension.
The stablecoin issuer for the Japanese Yen-backed stablecoin JPYC has informed that it has secured further capital from AZCOM Maruwa Group in order to continue growing its stablecoin business.
The latest figure adds ¥6B (around $39M in today’s rate) to their original Series B funding round in May.
Recently, JPYC expanded its partnership with the Lawson chain of stores in Japan for in-store payments.
Other potential applications may embed JPYC into national stablecoin salaries, as well as ATM cash withdrawals.
Growing Multichain
As part of this, JPYC is also looking to increase the distribution of JPYC stablecoin in Japan, which is currently operating across four popular blockchain networks.
JPYC maintains a $17.2M market cap per DefiLlama data, with ¥88.7M in supply on Avalanche; ¥167M on Ethereum; ¥594M on Polygon; and ¥1.8B on Kaia network.
The latter had celebrated growing past the ¥1B in JPYC supply mark only a few weeks ago.
