Japan Blockchain Foundation Co., Ltd., the operator behind Japan Open Chain (JOC), has officially confirmed plans to issue a trust-type Japanese yen-pegged stablecoin called “EJPY.”
According to the announcement, the stablecoin will initially be issued on Japan Open Chain and Ethereum, with future plans to expand into a multi-chain ecosystem.
The foundation said EJPY is designed to support real-world payment activity across enterprise settlements, digital asset transactions, remittances, and Web3 commerce applications.
Japan pushes stablecoin-based payment
The company stated that discussions with trustee businesses and compliance partners have now progressed enough for the trust-based issuance structure to take shape.
Japan Blockchain Foundation explained that the stablecoin will operate under a legally compliant framework covering issuance, redemption, trust asset management, and payment operations.
The organization said EJPY is intended to evolve Japan Open Chain beyond a standard blockchain network into a practical financial settlement infrastructure. “Stablecoins are positioned to be the core of next-generation financial infrastructure, enabling the actual transfer of value on blockchains,” the company stated.
The foundation added that preparations will initially focus on real-demand use cases such as B2B settlements, cross-border payments, digital asset trading, and enterprise-level remittance services.
EJPY to expand across Web3 and markets
Japan Blockchain Foundation said it plans to collaborate with Electronic Payment Instruments Service Providers, financial institutions, local governments, and infrastructure partners to accelerate EJPY adoption.
The company also noted that Japan Open Chain will remain the primary infrastructure layer for EJPY circulation while supporting future multi-chain compatibility.
According to the announcement, the initiative aims to provide:
- Enterprise and institutional payment infrastructure
- Blockchain-based remittance systems
- Web3 payment integrations
- Digital asset settlement services
- Municipal and regional payment support
The company emphasized that EJPY is not yet publicly available and clarified that the current announcement only reflects preparation progress toward future issuance.
Japan Open Chain expansion
Japan Open Chain is a fully Ethereum-compatible Layer-1 blockchain operated by a consortium of Japanese enterprises.
The network currently includes 14 validators from major Japanese corporations and institutions, including Dentsu, NTT Communications, TIS, TV Asahi Group’s extra mile Inc., Kyoto University of the Arts, SBINFT, and Nethermind.
The foundation said the validator network is expected to expand to 21 participants in the future as Japan Open Chain continues developing business-focused blockchain infrastructure.
“Through EJPY, the Company aims to contribute to the social implementation of a digital payment infrastructure safely usable by enterprises, financial institutions, and local governments,” the foundation added.
Earlier in May 2026, major Japanese banks also began testing tokenized government bond trading on blockchain networks to modernize bond markets and support 24/7 global market access by 2026.
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