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JPYC Completes Additional $17.62 Million in Series B Funding for Yen Stablecoin
On April 20, JPYC, the issuer of the yen stablecoin JPYC, completed an additional Series B funding round of 2.8 billion yen (approximately $17.62 million). Investors included Metaplanet, NCB Venture Capital, TechMira Holdings, Canal Ventures, SUMISEI INNOVATION FUND, i-nest capital, NTVP, Bank of Beiyang, and Yokohama Capital, among others. Metaplanet had previously disclosed plans to invest up to 400 million yen in JPYC in March of this year. The total amount raised in the Series B round now stands at approximately $29.62 million. This funding will be used for system and application development, talent recruitment, stablecoin issuance and settlement operations, as well as strategic investments.