{"id":33369,"date":"2026-08-18T14:55:34","date_gmt":"2026-08-18T14:55:34","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=33369"},"modified":"2026-08-18T14:56:22","modified_gmt":"2026-08-18T14:56:22","slug":"the-japanese-case-expanding-the-business-use-of-stablecoins","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins","title":{"rendered":"The Japanese case expanding the business use of stablecoins"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins\/#az-com_maruwa_holdings_prepares_to_pay_2300_truck_drivers_in_jpyc\" >AZ-COM Maruwa Holdings prepares to pay 2,300 truck drivers in JPYC<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins\/#how_a_stablecoin_works\" >How a stablecoin works<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins\/#jpyc_the_first_stablecoin_authorised_under_japans_payment_laws\" >JPYC, the first stablecoin authorised under Japan\u2019s payment laws<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins\/#a_move_from_the_crypto_world_into_everyday_business_operations\" >A move from the crypto world into everyday business operations<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/the-japanese-case-expanding-the-business-use-of-stablecoins\/#frequently_asked_questions\" >Frequently asked questions<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><p><span style=\"font-weight: 400;\">Japanese logistics company AZ-COM Maruwa Holdings, one of Amazon Japan\u2019s main delivery providers,<\/span><a href=\"https:\/\/cointelegraph.com\/news\/japanese-logistics-company-eyes-jpyc-stablecoin-to-pay-drivers\"> <b>is set to pay around 2,300 contractors and truck drivers in JPYC<\/b><\/a><span style=\"font-weight: 400;\">, the first official stablecoin pegged to the yen. The move is unusual because it is not coming from a bank or a major technology company, but from a traditional business trying to solve a very specific problem: <\/span><b>settling payments across a large network of external workers<\/b><span style=\"font-weight: 400;\"> with less friction and greater speed.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"az-com_maruwa_holdings_prepares_to_pay_2300_truck_drivers_in_jpyc\"><\/span><b>AZ-COM Maruwa Holdings prepares to pay 2,300 truck drivers in JPYC<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">AZ-COM Maruwa Holdings is listed on the Tokyo Stock Exchange Prime Market under ticker 9090 and reported revenue of \u00a5230.5 billion, around $1.4 billion, for the financial year ended in March. It has worked with Amazon Japan since 2017, <\/span><b>providing delivery services for its e-commerce operations.<\/b><\/p>\n<p><span style=\"font-weight: 400;\">On 22 July 2026, the company announced a capital and business partnership with JPYC Inc., the issuer of the token. <\/span><b>AZ-COM Maruwa plans to invest approximately \u00a51 billion, around $6.1 million,<\/b><span style=\"font-weight: 400;\"> to acquire a 2.9% stake in JPYC and build a dedicated payment infrastructure that will allow the token to be used to pay fees to around 2,300 partner companies and workers.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-33370 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_az-com-maruwa_jpyc-1-1024x512.jpg\" alt=\"bitnovo_az-com-maruwa_jpyc\" width=\"1024\" height=\"512\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_az-com-maruwa_jpyc-1-1024x512.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_az-com-maruwa_jpyc-1-300x150.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_az-com-maruwa_jpyc-1-768x384.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_az-com-maruwa_jpyc-1.jpg 1440w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The operational motivation comes from everyday logistics. Maruwa wants to speed up cash flow to drivers and small transport operators in a context shaped by labour shortages, an ageing workforce and stricter overtime rules in Japan.<\/span><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/growth-in-the-use-of-stablecoins\"> <b>The company expects near-instant and fee-free conversions into yen through the stablecoin<\/b><\/a><span style=\"font-weight: 400;\"> to make contract work more attractive. Payments between companies and contractors in Japan still rely heavily on traditional banking rails, with limited operating hours, fees and settlement times that reduce flexibility. The agreement also includes plans to introduce automatic payments once a delivery is completed, linking GPS data with smart contracts.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"how_a_stablecoin_works\"><\/span><b>How a stablecoin works<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A stablecoin is a cryptocurrency<\/span><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/stablecoins-explained-how-they-work-and-their-importance\"> <b>designed to maintain a stable value relative to a traditional currency.<\/b><\/a><span style=\"font-weight: 400;\"> The most common ones are pegged to the US dollar, but stablecoins linked to the euro, yen and other national currencies also exist. The aim is for one token to consistently represent one unit of that currency.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">That peg <\/span><b>is maintained through a backing mechanism<\/b><span style=\"font-weight: 400;\">. Under the most common model, the issuing company keeps reserves of cash or liquid assets equal to the total value of the tokens it has issued, with those reserves audited periodically. The difference compared with Bitcoin or Ethereum is straightforward: their prices fluctuate every day according to market supply and demand, while a stablecoin is designed to remain stable. <\/span><b>That stability is what makes it suitable for payments and transfers<\/b><span style=\"font-weight: 400;\"> without having to worry about what the token will be worth an hour later.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There are three main types depending on how the peg is maintained: fiat-backed stablecoins, such as USDC, USDT and JPYC; crypto-backed stablecoins, which use other cryptocurrencies as collateral; and algorithmic stablecoins, which automatically adjust token supply according to demand.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"jpyc_the_first_stablecoin_authorised_under_japans_payment_laws\"><\/span><b>JPYC, the first stablecoin authorised under Japan\u2019s payment laws<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">JPYC transitioned from a prepaid payment instrument, which had been operating since 2021, to a <\/span><b>fully regulated stablecoin in October 2025<\/b><span style=\"font-weight: 400;\">, after JPYC Inc. obtained a Funds Transfer Service Provider licence from Japan\u2019s Financial Services Agency, the FSA. <\/span><b>It is backed by yen deposits and Japanese government bonds.<\/b><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-33371 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_contractor-payments-1024x559.jpg\" alt=\"bitnovo_jpyc_contractor-payments\" width=\"1024\" height=\"559\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_contractor-payments-1024x559.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_contractor-payments-300x164.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_contractor-payments-768x419.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_contractor-payments.jpg 1407w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">JPYC was not launched as a general-purpose crypto asset intended for speculative trading, but as a payment instrument with its own legal status under Japan\u2019s regulatory framework. The issuer is supervised by the FSA, applies identity verification procedures to its users and is subject to specific requirements covering reserve management and consumer protection. It is the first fully regulated yen stablecoin, and its on-chain circulation had exceeded \u00a52 billion according to figures published in July 2026. That legal framework is what allows a listed company to consider it a genuine option for business payments.<\/span><\/p>\n<h2><span class=\"ez-toc-section\" id=\"a_move_from_the_crypto_world_into_everyday_business_operations\"><\/span><b>A move from the crypto world into everyday business operations<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Until now, the most visible stablecoin use cases were concentrated in a fairly defined area: transfers between crypto trading platforms, cross-border transactions between individuals, particularly in countries with high inflation such as Argentina or Turkey, remittances to countries such as the Philippines or Nigeria, and decentralised finance applications. All of these uses have one thing in common: <\/span><b>the user is usually already familiar with cryptocurrencies before turning to a stablecoin.<\/b><\/p>\n<p><b>The Japanese case breaks that pattern.<\/b><span style=\"font-weight: 400;\"> Maruwa\u2019s contractors are transport operators, self-employed workers and small delivery companies that will start receiving payment in a digital token because their client has chosen to pay them that way. Adoption is not being driven by an interest in the technology, but by an operational decision made by the company issuing the payments.<\/span><\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-33372 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_yen-stablecoin-1024x512.jpg\" alt=\"bitnovo_jpyc_yen-stablecoin\" width=\"1024\" height=\"512\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_yen-stablecoin-1024x512.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_yen-stablecoin-300x150.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_yen-stablecoin-768x384.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_jpyc_yen-stablecoin.jpg 1440w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<p><span style=\"font-weight: 400;\">This is not an entirely isolated case. SBI Group launched JPYSC, a yen stablecoin backed by a trust bank and aimed at institutional use. Japan\u2019s three largest banks, MUFG, SMBC and Mizuho, are working on Progmat, also known as Project Pax, a joint initiative targeting \u00a51 trillion in B2B stablecoin issuance by 2028 across a base of more than 300,000 corporate clients. An increasing number of regulatory frameworks, including Japan, the United Kingdom, the United States and the EU through MiCA, <\/span><b>are defining specific rules for stablecoins designed for payments<\/b><span style=\"font-weight: 400;\">, rather than speculation.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The open question is no longer whether stablecoins will exist as a business payment method, but when and under what conditions they will become mainstream. The AZ-COM Maruwa case does not answer that question, but a listed logistics company moving supplier payments onto a digital token is <\/span><b>the kind of concrete example that often comes before broader changes across other industries.<\/b><\/p>\n<h2><span class=\"ez-toc-section\" id=\"frequently_asked_questions\"><\/span><b>Frequently asked questions<\/b><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>What is a stablecoin and what is it used for?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A stablecoin is a cryptocurrency whose value<\/span><a href=\"https:\/\/www.bitnovo.com\/blog\/en\/stablecoins-101-a-basic-introduction\"> <b>is designed to remain stable relative to a traditional currency<\/b><\/a><span style=\"font-weight: 400;\">, usually the dollar, euro or yen. That stability is maintained through reserve assets or algorithmic mechanisms that adjust the circulating supply. Its main purpose is to serve as a means of payment or transfer without the volatility typical of other cryptocurrencies, making it suitable for business payments, international transfers and e-commerce.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-33373 size-large\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_stablecoin_stable-value-1024x546.jpg\" alt=\"bitnovo_stablecoin_stable-value\" width=\"1024\" height=\"546\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_stablecoin_stable-value-1024x546.jpg 1024w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_stablecoin_stable-value-300x160.jpg 300w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_stablecoin_stable-value-768x410.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2026\/08\/bitnovo_stablecoin_stable-value.jpg 1410w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Why is the AZ-COM Maruwa case different from other stablecoin use cases?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Because most previous examples were concentrated within the crypto sector itself: exchanges, trading platforms, decentralised applications or transfers between individuals. AZ-COM Maruwa is a traditional logistics company listed on the Tokyo Stock Exchange that plans to use a stablecoin for a very practical task: <\/span><b>paying more than 2,000 contractors and truck drivers<\/b><span style=\"font-weight: 400;\"> within an already established legal framework.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>What is the difference between a stablecoin and a central bank digital currency, or CBDC?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">A stablecoin is issued by a private company, backed by reserve assets and subject to the specific rules of the country in which it operates. A CBDC, or Central Bank Digital Currency, is issued directly by a country\u2019s central bank and forms part of its official money supply, with the same legal backing as cash issued by that authority. A stablecoin depends on the issuer and its solvency, while a CBDC depends on the state itself.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>What is the legal framework for stablecoins in Europe?<\/b><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">In the European Union, stablecoins are regulated under MiCA, the Markets in Crypto-Assets Regulation, the EU framework specifically created for crypto-assets. MiCA distinguishes between different types of stablecoins and sets specific requirements for their issuers, including audited reserve assets, public supervision, transparency obligations and user protections. The aim is to create a clear legal distinction between stablecoins intended for payments and more speculative crypto-assets.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 5<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>Japanese logistics company AZ-COM Maruwa Holdings, one of Amazon Japan\u2019s main delivery providers, is set to pay around 2,300 contractors and truck drivers in JPYC, the first official stablecoin pegged to the yen. The move is unusual because it is not coming from a bank or a major technology company, but from a traditional business [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":33362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-33369","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33369","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=33369"}],"version-history":[{"count":1,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33369\/revisions"}],"predecessor-version":[{"id":33374,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/33369\/revisions\/33374"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/33362"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=33369"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=33369"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=33369"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}