Japanese yen stablecoin JPYC raised approximately 5 billion yen in its Series B funding round.

CoinFeed reported on May 23 that JPYC Co., Ltd., the issuer of the Japanese yen stablecoin, announced the completion of its Series B financing round, raising a total of 5 billion yen (approximately US$31.4 million) through its first and second rounds of funding. Four new investors joined the round: Life Design Fund, IHD STRATEGY FUND, Awagin Future Creation Investment Limited Partnership, and Meiji Yasuda Future Co-creation Investment Limited Partnership. The funds raised will be used to expand the ecosystem in the financial and Web3 sectors, further accelerating the adoption of the JPYC stablecoin.