The Japan Blockchain Foundation has announced plans for EJPY, a trust-type Japanese yen stablecoin built for payments, settlements, remittances, and Web3 commerce. The token will first run on Japan Open Chain and Ethereum, with wider multi-chain support planned later in stages.
As per a report, the foundation runs Japan Open Chain, referred to as JOC. The company said trustee and compliance discussions have progressed sufficiently to form the planned issuance model.
EJPY will be issued in a trust-based structure. The framework will encompass areas covering issuance, redemption, and trust assets.
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Japanese Yen Stablecoin Targets Real-World Payments
The Japanese yen stablecoin is being readied for real-world financial activities. The foundation will focus on enterprise settlements, cross-border payments, trading related to digital assets, and the provision of corporate remittance services.
The Japan Blockchain Foundation stated that stablecoins are capable of becoming a part of the future financial infrastructure. It states that value transfer via blockchain has the potential to underpin payment activity between business systems.
Thus, the goal for an EJPY is to enlarge Japan Open Chain through entities other than simply a blockchain network. It aims to construct a settlement layer that provides for enterprises, banks, and local governments.
The Japanese yen stablecoin will use Japan Open Chain as its main infrastructure. Ethereum will also support the first rollout, while future plans include compatibility with more networks.
The foundation said it would work alongside payment service providers, banks, local authorities, and infrastructure partners. Those groups should assist in creating channels of adoption once issuance steps up.
It will include institutional payment infrastructure, blockchain-based tools for remittances, and more. It cited Web3 payment integrations, digital asset settlement services, and municipal payment support as well.
Japan Open Chain Plans Wider Validator Expansion
The Japan Blockchain Foundation said the stablecoin pegged to the Japanese yen is not in circulation yet. It said the announcement is a sign of process, not an immediate rollout.
Japan Open Chain is a Layer-1 blockchain fully compatible with Ethereum. It is run by a consortium of Japanese business blockchain infrastructure companies and institutions.
However, the network consists of 14 validators. They are Dentsu, NTT Communications, TIS, TV Asahi Group Extra Mile Inc., Kyoto University of the Arts, SBINFT, and Nethermind.
While the validator network is set to expand to 21 members, the foundation expects This added that growth will help facilitate broader market adoption of Japan Open Chain as a business-oriented settlement network.
Through the Japanese yen stablecoin, the company claimed that its goal is to provide a secure digital payment infrastructure for businesses, banks, and local governments. The project puts EJPY against a backdrop of Japan’s broader movement toward blockchain-based financial systems.
This update comes as recent blockchain developments tied to Japan’s finance sector. In fact, Japanese banks were trialing tokenized government bond trading earlier this May 2026 to redevelop and liberalize the downstream global access of their respective bond markets.
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