- Businesses are adopting stablecoins for treasury and cross-border payments.
- JCB and AZ-COM Maruwa are expanding enterprise stablecoin use cases in Japan.
- Stablecoins are evolving into a payment rail alongside banks and card networks.
In Japan, logistics giant AZ-COM Maruwa Holdings committed ¥1 billion ($6.16 million) to deploy the regulated JPYC stablecoin for payments to around 2,300 subcontractors and independent drivers.
The investment roughly doubled the total supply of JPYC, which previously stood between ¥1 billion and ¥1.3 billion, making it one of Japan’s largest corporate stablecoin deployments to date.
JPYC, launched in October 2025, is Japan’s first regulated yen-pegged stablecoin. It maintains a one-to-one peg with the yen through reserves held in bank deposits and Japanese government bonds while operating across Avalanche, Ethereum, and Polygon.
It is clear that stablecoins are moving beyond crypto trading and becoming part of corporate payment infrastructure.
Over the past year, logistics companies, manufacturers, banks, card networks, and treasury software providers have all launched projects aimed at replacing slower and more expensive payment systems with blockchain-based settlement.
Payment Networks Are Entering the Market
Japan’s largest card network, JCB, has partnered with Circle to explore USDC for internal cross-border settlements and eventually merchant payments across Japan.
The companies are studying how overseas visitors could use stablecoins to pay local merchants while also evaluating technology that supports interoperability across multiple blockchain networks.
Meanwhile, Circle and Nomura have been developing stablecoin-based foreign exchange settlement services for Japanese businesses, further expanding enterprise use cases.
Regulation Is Removing Corporate Barriers
In the United States, the GENIUS Act established the country’s first federal framework for payment stablecoins, creating licensing standards, reserve requirements, redemption rules, and anti-money laundering obligations. The legislation gives finance departments and compliance teams clearer rules for evaluating stablecoin payment infrastructure.
Japan is also working on oversight. Parliament recently approved legislation classifying cryptocurrencies as financial assets, bringing stricter regulation, including insider trading rules and stronger penalties for unregistered trading.
While oversight is increasing, the regulatory framework also provides businesses with greater certainty as they evaluate blockchain-based payment systems.
Businesses Are Treating Stablecoins as Payment Infrastructure
Bitso Business reported that stablecoin transaction volume on its platform increased 81% year over year during the first half of 2026, driven largely by treasury management, cross-border liquidity, and real-time settlement. More than 60% of new business customers were financial institutions, including banks and licensed payment providers.
A Paybis survey found that 22.5% of businesses already use stablecoins for international payments or expect to adopt them within the next year. McKinsey estimates that business-to-business transactions accounted for roughly 60% of the $390 billion in global stablecoin payment volume during 2025.
Other research points to even broader growth. Artemis estimated that monthly B2B stablecoin payments expanded from roughly $100 million in early 2023 to more than $3 billion by 2025.
Blockchain analytics also indicate stablecoins processed over $33 trillion in on-chain transaction volume globally, while the overall stablecoin market has grown to roughly $312 billion in market capitalization, led by Tether’s USDT.
Related: FATF Warns Criminals Are Increasingly Using Stablecoins to Move Illicit Funds
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