Japan Blockchain Foundation Announces Plan for EJPY Yen Stablecoin on Japan Open Chain, With Ethereum Support Planned

Overview

• The Japan Blockchain Foundation, which announced the EJPY plan Wednesday, outlined a yen-pegged token for business payments on Japan Open Chain with Ethereum support to follow.
• EJPY is being set up as a trust, with the foundation as settlor, and talks are under way with potential trustees on issuance, redemption, custody, systems, and legal compliance.
• The group has not named a trustee or partners and has not set a launch date, with regulatory reviews and agreements still pending before any rollout.
• Japan’s rules cap fund-transfer style stablecoins at 1 million yen per transaction, so a trust model could let EJPY handle larger corporate settlements that require fast redemption and clear legal treatment.
• Japan Open Chain is an enterprise-focused public blockchain run by 14 validators, including Dentsu and NTT Communications, and EJPY enters a growing yen stablecoin market alongside JPYC, SBI–Startale’s JPYSC, and bank-led pilots by MUFG, SMBC, and Mizuho.