JPYC Completes $17.62M Series B Secondary Tranche, Raising Total to $28.93M

Gate News message, April 20 — JPYC, the issuer and operator of the Japanese yen stablecoin JPYC, announced the completion of its Series B secondary tranche, raising approximately $17.62 million. Combined with the first tranche, total Series B funding reaches approximately $28.93 million. Investors include NCB Venture Capital, Metaplanet, Bank of Yokohama, and Yokohama Capital.

The funding will be allocated to system and application development, business expansion and talent recruitment, stablecoin issuance and redemption operations, trading and payment services, and strategic investments. As of April 15, JPYC's cumulative issuance exceeded approximately $13.21 million.

JPYC currently supports Avalanche, Ethereum, and Polygon, with plans to add Kaia and Arc in the future.