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Japanese Yen stablecoin issuer JPYC completes $17.62 million Series B additional funding
Deep Tide TechFlow News, April 20 — According to NADA NEWS, the issuer and operator of the Japanese yen stablecoin JPYC, JPYC, announced that it has completed approximately $17.62 million in additional funding during the second closing of Series B, bringing the total funding after the first closing to an estimated $28.93 million. Participants include NCB Venture Capital, Metaplanet, Beiyang Bank, Yokohama Capital, and others.
This round of funds will mainly be used for system and application development, talent recruitment for business expansion, stablecoin issuance and redemption, trading, payments, management-related activities, and new strategic investments. JPYC stated that as of April 15, its total issuance has exceeded approximately $13.21 million, currently supporting Avalanche, Ethereum, and Polygon, with plans to add Kaia and Arc.