Japan Blockchain Foundation plans to launch the EJPY stablecoin on Ethereum and Japan Open Chain in 2026.
Stablecoin News
Japan Blockchain Foundation announced on May 13 that it will launch EJPY, a Japanese yen-pegged stablecoin, on Japan Open Chain (JOC) and the Ethereum (ETH) blockchain. The foundation said it is currently in discussions with potential trustees for the token.
EJPY is structured as a trust-type stablecoin, with the foundation acting as the settlor. Under Japan's stablecoin regulations, the trust-type model carries no per-transaction remittance cap, unlike the fund transfer service provider model used by earlier issuers such as JPYC, which is subject to a 1 million yen limit per transaction.
Japan Open Chain is an Ethereum-compatible layer-1 public blockchain operated by a consortium of 14 Japanese enterprises. Validators include Dentsu Inc., NTT Communications, and SBINFT Co., with the Japan Blockchain Foundation serving as the consortium's operating entity.
The foundation said EJPY is intended to support B2B settlements, digital asset settlements, remittances, and payments across Web3 services, with multi-chain compatibility planned for consideration in the future. A specific issuance timeline has not been determined, though the foundation aims to complete the launch within 2026, according to local outlet NADA News.
Japan's stablecoin framework has been active since 2023, when regulators introduced formal rules and JPYC became the country's first approved yen stablecoin. Since then, multiple major financial institutions have moved to establish their own positions.
SBI Holdings launched its trust-type stablecoin JPYSC earlier this year in partnership with Startale Group. Meanwhile, three of Japan's largest banks—MUFG, SMBC, and Mizuho—are working on separate stablecoin and tokenized deposit pilots.
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