Tokyo-based stablecoin issuer JPYC Inc. announced the first close of its Series B funding round on February 27, 2026, raising $11.9M (1.78B Yen) with Asteria Corporation as lead investor. The equity financing drew participation from JR West Innovations, bitFlyer Holdings, HEROZ Inc., Meiji Yasuda Future Co-creation Fund, and regional financial vehicles including Chugin Infinity Fund and Ryobi Systems Innovation Fund. JPYC, issuer of the yen-pegged stablecoin JPYC, will deploy the capital toward infrastructure and ecosystem expansion under Japan’s stablecoin regulations.
Company and Product Context
Founded in 2019 and headquartered in Chiyoda-ku, Tokyo, JPYC Inc. first issued its token in 2021 as a prepaid payment instrument. After Japan’s 2023 Payment Services Act amendments imposed stricter reserve and licensing rules, JPYC registered as a funds transfer service provider with the Financial Services Agency (FSA) in August 2025. This enabled the October 2025 launch of its current JPYC iteration, backed 1:1 by yen deposits and government bonds.
The token operates across Ethereum (for DeFi), Polygon (gaming and NFTs), and Avalanche (high-speed payments), serving as a bridge between traditional payments and on-chain applications. Company data as of February 16, 2026, shows $8.7 million in cumulative issuance (growing 69% monthly), daily turnover exceeding circulating supply, 13,000 direct accounts, and 80,000+ holding wallets-suggesting off-platform circulation.
Round Structure
Asteria Corporation (TSE Prime: 3853), a data integration software provider, led the round and maintains prior business ties with JPYC. Its statement emphasized JPYC’s regulatory compliance and multi-chain positioning for payments and DeFi. JR West Innovations, bitFlyer Holdings (crypto exchange operator), and AI firm HEROZ cited alignments with transport, blockchain infrastructure, and AI-blockchain synergies.
Allocation Priorities
JPYC detailed four spending categories in its announcement:
- Security-hardened systems and developer tools for multi-chain and machine-to-machine payments.
- Staff expansion in sales, compliance, and blockchain roles.
- Operational scaling for issuance, redemption, B2B remittances, and payroll infrastructure.
- Flexible reserves for alliances and emerging Web3 opportunities.
These priorities signal a transition from pilot programs to infrastructure-grade deployment, aligning with a broader compliance-driven funding trend in crypto, evident in recent moves such as Bluprynt Secures $4.25 Million to strengthen regulatory and reporting infrastructure within the digital asset sector.
Capital Timeline
JPYC’s prior headline raise was a $3.3 million Series A in November 2021, led by Headline Asia with Circle Ventures participation. Supplemental J-KISS agreements and investments from YUTO, Persol, and others supported regulatory pivots. Verifiable total equity now surpasses $15.2 million, excluding undisclosed seed activity.
Competitive Environment
Post-TerraUSD fallout, Japan’s rules mandate FSA oversight and segregated reserves for non-bank issuers. JPYC claims first-mover advantage in this category. However, SBI Holdings and Startale Group’s trust-backed JPYSC targets Q2 2026 institutional launch. Bank and non-bank models may segment by enterprise versus retail focus.
Dollar stablecoins hold 99%+ market share globally, but yen variants eye DeFi liquidity, remittances, and real-world asset tokenization. JPYC’s metrics show early momentum, though execution amid rivals and FSA scrutiny remains key.
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