Tokyo-based logistics company AZ-COM Maruwa Holdings, which supports Amazon Japan's delivery services, will start paying roughly 2,300 subcontractors and truck drivers with the regulated yen stablecoin JPYC, marking Japan’s first large-scale corporate use of a stablecoin.
The firm, listed on the Tokyo Stock Exchange, generated 230.5 billion yen ($1.4 billion) in revenue for the fiscal year ending March 2026. AZ-COM Maruwa has collaborated with Amazon Japan since 2017, handling deliveries for its online shopping operations.
JPYC, issued by JPYC Inc., is Japan’s first fully regulated yen-pegged stablecoin launched in October 2025 under the Payment Services Act. The stablecoin is backed 1:1 by bank deposits and Japanese government bonds, boasting an onchain circulation above 2 billion yen as of last week.
Implications for Payments and Labor Market
The stablecoin adoption aims to streamline payments, enabling near-instant and cost-free conversion to yen for drivers and small carriers. This solution responds to Japan’s aging workforce, labor shortages, and tighter overtime regulations that challenge the logistics sector. AZ-COM Maruwa hopes to make contracting work more appealing through faster cash flow.
The company is also exploring a formal partnership with JPYC’s issuer and considering investing 1 billion yen in the stablecoin project, according to Nikkei Asia.
This initiative follows a recent pilot program by Lawson convenience stores, which plans to introduce JPYC payments at their Takanawa Gateway City location in Tokyo starting August 2026. Combined, these developments highlight growing momentum for regulated stablecoins in Japan’s mainstream markets, from retail trials to sizable corporate applications.
This article is for informational purposes only and does not constitute financial advice.
