Japanese Company Embraces the Digital Yen

Japanese logistics company AZ COM Maruwa Holdings plans to use the JPYC stablecoin to settle payments with around 2,300 business partners. According to Nikkei, this would be the first time a Japanese company has used a yen-pegged digital currency on such a large scale.

JPYC would be used to pay individual transport subcontractors, including truck drivers. With no transfer fees, payments could be processed more quickly and made more frequently.

AZ COM Maruwa is also considering a partnership with JPYC Inc. and an investment of more than ¥1 billion, equivalent to approximately $6.2 million. The company is a mid-sized logistics operator in Japan, and Amazon Japan is among its largest clients.

The initiative reflects a broader trend of using stablecoins to pay workers. This development is not limited to Asia. It is particularly visible in South America, where some employees prefer dollar-pegged digital assets over digital versions of their local currencies.

Such solutions are becoming increasingly important in countries struggling with high inflation and weakening national currencies. Dollar-backed stablecoins are seen as a way to protect earnings from rapidly losing value.

Noritaka Okabe, founder and CEO of JPYC Inc., said the company intends to continue integrating logistics services with JPYC-based payments.

A similar trend can be seen beyond Asia. Stablecoins are also gaining popularity in South America, especially in countries facing high inflation and instability in their local currencies. Some workers would rather receive their salaries in dollar-pegged tokens than in digital versions of their national currencies, reducing the risk that their earnings will quickly lose value.