Yen stablecoin JPYC secures $11.9M in Series B funding

JPYC Inc., the issuer and operator of the Japanese yen stablecoin JPYC, announced it has secured 1.78 billion yen ($11.9 million) in its first Series B funding round. The round was led by software developer Asteria. The company plans to use the funds to expand its financial and Web3 ecosystems and accelerate the practical adoption of stablecoins. JPYC currently supports Avalanche, Ethereum, and Polygon.