Key Takeways
- Japan Blockchain Foundation to launch EJPY, a trust-type yen-pegged stablecoin.
- The stablecoin is designed to be issued on Ethereum and Layer 1 blockchain Japan Open Chain
On May 13, 2026, Japan Blockchain Foundation announced that it will issue EJPY, a Japanese yen-pegged stablecoin, on Japan Open Chain (JOC) and Ethereum.
According to the company, EJPY is designed as a trust-type yen stablecoin, where the Japan Blockchain Foundation will act as the settlor. The foundation said it is currently in discussions with potential trustees for the stablecoin.
Expected Transactions Included Remittances and Asset Settlements
“The issuance and circulation of EJPY are expected to generate transactions based on real demand on JOC, including business-to-business (B2B) settlements, digital asset settlements, remittances, and payments in various Web3 services,” the foundation said, adding that it will consider multi-chain compatibility for EJPY moving forward.
Japan Blockchain Foundation is the entity operating the consortium of Japanese enterprises behind Japan Open Chain, an Ethereum-compatible Layer 1 public blockchain. The network is operated by 14 validators, which includes Dentsu Inc., NTT Communications, and SBINFT Co.
Trust Type or Fund Transfer Service Model
According to NADA News, non-bank issuers of stablecoins can choose either a fund transfer service provider model or a trust-type structure model. While the former, which is used by earlier issuers like JPYC, is subject to a per-transaction remittance limit of 1 million yen, the trust-type model is not restricted by such limits.
More details on the release of EJPY’s issuance, including its timeline, have not yet been determined, according to the company. NADA News has however reported that the foundation aims to start the issuance within 2026.
Japanese authorities started laying out stablecoin regulations in 2023.After it approved JPYC as the country’s first yen stablecoin, competitors have quickly moved to establish their own stablecoin services.
Financial giant SBI Holdings unveiled its trust-type stablecoin JPYSC earlier this year under a collaboration with Startale Group, while three major local banks — MUFG, SMBC, and Mizuho — are working on stablecoin and tokenized deposit releases.
