AZ-COM Maruwa (TYO:9090) signed a memorandum of understanding with JPYC under which it plans to use yen-denominated stablecoins to lower bank transfer fees and speed up payments,

The deal with JPYC, the country's first issuer of a yen-denominated stablecoin, is expected to support the logistics operations and AZ-COM Network of the Japanese logistics group, according to a Wednesday filing with the Tokyo bourse.

Under the capital and business alliance agreement, AZ-COM Maruwa will subscribe to 116,000 JPYC Class B1 preferred shares for 8,630 yen per share or about 1 billion yen in total on July 30.