GoCheckMyCrypto.comAmazon Japan logistics firm AZ-COM Maruwa to pay 2,300 partners with regulated yen stablecoin JPYC
AZ-COM Maruwa Holdings, a Tokyo-listed Amazon Japan supplier with 230.5 billion yen in annual revenue, will adopt JPYC, Japan's first regulated yen stablecoin, to pay approximately 2,300 subcontractors and truck drivers. The move addresses labor-market frictions in Japan and marks the first large-scale corporate stablecoin rollout in the country.
AZ-COM Maruwa Holdings, a Tokyo-listed logistics firm that distributes products for Amazon Japan, plans to pay approximately 2,300 business partners, including subcontractors and truck drivers, using JPYC, marking Japan's first large-scale corporate stablecoin rollout in day-to-day operations.
AZ-COM reported 230.5 billion yen, roughly 1.4 billion dollars, in revenue for the fiscal year ended March, according to CoinDesk. The company has worked with Amazon Japan since 2017, providing delivery services for its online shopping operations. The stablecoin adoption targets a specific pain point: Japan's labor shortages, aging workforce, and stricter overtime regulations that make logistics contracting less attractive.
JPYC is Japan's first fully regulated yen-pegged stablecoin, issued by Tokyo-based fintech firm JPYC Inc. and backed 100% by bank deposits and Japanese government bonds. The token debuted in October under the Payment Services Act and maintains a strict 1:1 peg to the yen, according to CoinDesk. As of the week prior to this announcement, JPYC's onchain circulation had surpassed 2 billion yen.
AZ-COM's rationale centers on cash flow velocity. The company hopes that near-instant and free conversions to yen via stablecoins will make contracting work more attractive to truck drivers and small carriers facing payment delays in traditional banking channels. Faster payouts and lower friction could improve recruitment and retention in a sector struggling to find labor.
AZ-COM is considering a formal business partnership with JPYC Inc. and evaluating a 1 billion-yen investment in the token, according to CoinDesk. Separately, Japanese convenience store giant Lawson announced plans to pilot JPYC payments at its Takanawa Gateway City store in Tokyo starting in early August. These moves suggest testing of the stablecoin in both B2B and retail contexts simultaneously.
The adoption remains unverified at scale: the timeline for rollout across all 2,300 partners, the mechanics of yen conversion on-ramps, and the tax treatment of stablecoin wages for contractors all remain open. Regulatory restrictions on JPYC issuance volume or operational use have not been disclosed.
AZ-COM Maruwa, a major Amazon Japan logistics partner, will pay roughly 2,300 workers and contractors using JPYC, Japan's regulated yen stablecoin backed 100% by bank deposits and government bonds.
Watch whether AZ-COM completes the rollout to its full contractor base within the announced timeframe and whether other major Tokyo-listed firms follow suit. The test case breaks if regulatory conditions tighten or if conversion friction resurfaces when moving from pilot to operational scale.
And that's the way it is.
Sources
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