Japan Blockchain Foundation to Launch EJPY Yen Stablecoin on JOC and Ethereum

Key Highlights

• EJPY stablecoin designed for deployment on Japan Open Chain and Ethereum networks
• Trust-based structure could enable unlimited corporate transaction volumes
• Japan Open Chain’s validator network includes major Japanese enterprises
• Launch adds competition to Japan’s expanding regulated stablecoin ecosystem
• Foundation currently finalizing trustee selection and regulatory compliance framework

The Japan Blockchain Foundation has announced plans for EJPY, a yen-denominated stablecoin designed to operate on both Japan Open Chain and Ethereum. Pending final regulatory approval, this digital asset aims to facilitate business transactions, blockchain-based settlements, international transfers, and decentralized finance applications.

Multi-Chain Strategy for EJPY Deployment

As the organization behind Japan Open Chain, the foundation oversees an enterprise-oriented, Ethereum-compatible Layer 1 public blockchain network. This platform combines public blockchain accessibility with validation from established Japanese corporate entities, creating a bridge between traditional finance and decentralized infrastructure.

Japan Open Chain maintains a validator network of 14 prominent organizations, featuring companies such as Dentsu, NTT Communications, G.U.Technologies, SBINFT, Pacific Meta, and Nethermind. The network has outlined expansion plans to grow its validator base to 21 participants. Additionally, the platform’s native JOC Coin achieved a significant milestone when Zaif exchange listed it for trading in February 2026.

Initial deployment will prioritize Japan Open Chain, according to foundation representatives. Ethereum support will follow, with potential expansion to additional blockchain networks under consideration. This multi-platform approach positions EJPY to serve domestic enterprise clients while maintaining accessibility for global Web3 payment ecosystems.

Trust-Based Model Targets Enterprise Transactions

EJPY will operate under a trust-type framework, with the Japan Blockchain Foundation serving as the settlor. The organization has initiated conversations with prospective trustee companies to establish operational protocols. These discussions encompass token issuance procedures, redemption mechanisms, trust asset custody, infrastructure development, and regulatory adherence.

This structural choice carries significant implications for business-to-business payment flows. Industry analysis of Japan’s stablecoin regulations indicates that fund transfer-type models face statutory caps of 1 million yen per transaction. Trust-based [[LINK_START_1]]stablecoins[[LINK_END_1]] may operate without such restrictions under current Japanese regulatory frameworks.

Corporate users require transparent redemption protocols, robust legal foundations, and dependable transaction processing speeds. The trust-based structure could position EJPY as a solution for high-value corporate payments where transfer-capped alternatives prove insufficient. However, the foundation has yet to disclose the selected trustee, specific launch timeline, or complete roster of operational partners.

Growing Competition in Japan’s Digital Yen Landscape

The EJPY initiative follows Japan’s establishment of comprehensive stablecoin regulations in 2023. Multiple organizations have since launched initiatives to develop yen-backed blockchain payment solutions, reflecting increasing appetite for compliant digital yen infrastructure.

JPYC introduced Japan’s inaugural yen-backed stablecoin in October 2025, collateralized by yen deposits and Japanese government securities. SBI Holdings has partnered with Startale Group to develop JPYSC under Japan’s Type III regulatory classification, emphasizing institutional payment channels and corporate settlement applications.

The Financial Services Agency of Japan has also facilitated stablecoin pilot programs involving major banking institutions MUFG, SMBC, and Mizuho. EJPY’s entry intensifies competition to establish blockchain-based yen payment infrastructure. The foundation’s progress will hinge on trustee appointments, regulatory clearances, and market acceptance.

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