Japan Blockchain Foundation Unveils Trust-Backed JPY Stablecoin ‘EJPY’ for Enterprise Settlements
Japan Blockchain Foundation has announced plans to issue "EJPY," a new Japanese Yen-pegged stablecoin designed to facilitate enterprise and digital asset settlements. The stablecoin will be deployed on both the Ethereum network and the Japan Open Chain (JOC), an Ethereum-compatible public blockchain operated by a consortium of major Japanese corporations.
The issuance will be structured under a legally compliant trust-type scheme, with the Foundation acting as the settlor. The firm stated it is currently in advanced discussions with prospective trustee businesses to finalize operational frameworks, including the management of trust assets, issuance, redemption protocols, and systemic regulatory compliance.
Consumer and enterprise access to EJPY will be facilitated through licensed Electronic Payment Instruments Service Providers, aligning with Japan's regulatory framework for digital currencies.
According to the Foundation, EJPY is engineered to address real-world demand in the digital economy. Target use cases include business-to-business (B2B) settlements, cross-border remittances, and payment integration within Web3 services. Daimei Inaba, Representative of the Japan Blockchain Foundation, noted that the stablecoin represents a strategic shift for JOC, evolving it from a foundational blockchain into a practical financial infrastructure for actual value transfer.
While JOC will serve as the core platform for the stablecoin, the Foundation indicated it is exploring multi-chain compatibility to maximize accessibility for both domestic and international businesses.
The Japan Open Chain is currently maintained by 14 corporate validators—including industry heavyweights such as Dentsu Inc., NTT Communications, and TIS Inc.—with plans to expand its decentralized network to 21 validators.
The Foundation clarified that the current announcement serves as a status update on preparations. Official launch dates, definitive issuance terms, and specific handling partners will be disclosed following final discussions with Japanese regulatory authorities.
Norbert Gehrke
