Japanese yen stablecoin issuer JPYC has completed a Series B funding round of approximately $12 million.

Jinse Finance reported that yen stablecoin issuer JPYC has completed the first round of its Series B financing, raising approximately $12 million, led by Japanese IT solutions provider Asteria Corporation. This financing indicates that investment interest in JPYC is no longer limited to the cryptocurrency sector, as most of its supporters now come from the Japanese business community rather than the digital asset industry.