ChainThink message, according to NADA NEWS, the JPYC Japanese yen stablecoin issuer has announced the closing of the second tranche of its Series B funding round, raising an additional 2.8 billion JPY, approximately $17.62 million, with investors including Metaplanet, NCB Venture Capital, TechMira Holdings, Canal Ventures, SUMISEI INNOVATION FUND, i-nest capital, NTVP, Hokuyo Bank, and Yokohama Capital.

Metaplanet had previously disclosed in March this year its plan to invest up to 400 million JPY in JPYC.

Following this round of financing, the cumulative funding raised in JPYC's Series B round reaches approximately $29.62 million, with proceeds allocated toward system and application development, talent acquisition, stablecoin issuance and settlement operations, as well as strategic investments.