Japan Open Chain to Host New Yen-Pegged Stablecoin EJPY

Japan Blockchain Foundation plans to launch the EJPY stablecoin on Japan Open Chain and Ethereum for payments and Web3 services.

Japan Blockchain Foundation announced plans to launch a new yen-backed stablecoin called EJPY. The stablecoin will be available on Japan Open Chain and Ethereum. Furthermore, the project seeks to facilitate payments, remittances, and blockchain-based financial services in Japan’s emerging digital economy.

The foundation confirmed that EJPY will adopt a trust-based stablecoin model. Moreover, the organization will be the settlor of the project. Company officials also said discussions are already taking place with potential trustees for issuance, redemption, and legal compliance operations.

Japan Pushes Forward with Blockchain Payment Infrastructure

The consortium behind the blockchain network manages Japan Open Chain. JOC is a public blockchain that is 100% compatible with Ethereum technology. Further, several large Japanese companies are currently operating and supporting the blockchain infrastructure and ecosystem development of the network.

Related Reading: Japan Tokenizes Bonds on Blockchain 24/7 

The trust mechanism for EJPY is now in a crucial phase, said Japan Blockchain Foundation. Thus, the company will speed up the preparation and circulation of the tokens on the Japan Open Chain in fiscal year 2026.

The organization said that the talks cover trust asset management, technical system needs, and regulatory compliance. As a result, the foundation is convinced that EJPY can function safely within the framework of Japan’s financial regulations and facilitate stable blockchain transactions for institutions and businesses.

EJPY will first launch on the Japan Open Chain and Ethereum simultaneously. Furthermore, the foundation might look into more blockchain integrations in the future. The multi-chain strategy may enable EJPY to grow in various blockchain networks and financial services.

The foundation hopes that EJPY will help meet real business demand on JOC. The stablecoin can be used for B2B settlements, digital asset transactions, remittances, and payments for Web3 services, for instance. Consequently, JOC may become more than just a regular blockchain platform and turn into a full payment system.

Former Japanese Digital Minister Takuya Hirai recently spoke of potential delays in Japan’s technology. If the nation lags in digital finance and blockchain innovation, it would be detrimental to the country’s national sovereignty and economic competitiveness, he said.

Japan’s Stablecoin Market Continues Expanding Rapidly

The stablecoin market in Japan has been rapidly expanding in recent months. In February 2026, SBI Holdings had previously joined forces with Startale Group to launch the JPYSC stablecoin. JPYSC is the first trust bank-backed yen stablecoin for institutions and international payments in Japan.

The new EJPY project brings even more competition to the digital finance market in Japan. Moreover, blockchain firms are still investigating stablecoins as a means of quicker payments and secure digital settlements in local and worldwide markets.

Stablecoins are increasingly becoming a key component of the future of digital economies, with many financial companies viewing them as a crucial asset. Stablecoins offer blockchain velocity with stable value backed by currency. Therefore, governments and financial institutions continue to increase investments in blockchain payment systems.

Japan Blockchain Foundation thinks that EJPY can bridge the gap between traditional finance and Web3 services. The project could also help to consolidate Japan Open Chain’s presence in the global blockchain market. A lot of businesses now anticipate that the adoption of stablecoins will continue to rise in the coming years.

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