Japan Blockchain Foundation unveils EJPY yen stablecoin

Japan Blockchain Foundation will launch EJPY, a yen-pegged stablecoin, on Japan Open Chain and Ethereum. EJPY targets B2B payments, settlements, and Web3 services with a trust-based, compliant model.

The Japan Blockchain Foundation has announced the launch of EJPY, a trust-based stablecoin pegged to the Japanese yen. EJPY will debut on both the Japan Open Chain (JOC) and Ethereum networks, aiming to streamline business-to-business payments, digital settlements, remittances, and Web3 services. The stablecoin is backed by yen held in trust accounts, with the foundation serving as settlor and trustees managing assets to ensure transparency and regulatory compliance. Japan Open Chain is an enterprise-focused, Ethereum-compatible public blockchain supported by a consortium of major Japanese companies. It currently features 14 validators, with plans to expand to 21. The foundation is finalizing trustee selection and compliance frameworks, with the launch pending regulatory approval. EJPY is expected to drive adoption through collaborations with financial institutions, governments, and infrastructure partners, positioning itself as a key player in Japan’s regulated stablecoin ecosystem and digital payment infrastructure.