The Japan Blockchain Foundation recently announced the issuance of the EJPY stablecoin, pegged to the Japanese yen, on the Japan Open Chain and Ethereum platforms. The foundation is responsible for operating the Japan Open Chain, a Layer 1 public blockchain compatible with Ethereum, driven by multiple Japanese enterprises.
The initial launch of EJPY will primarily target the Japan Open Chain. The foundation stated that this token will support various applications, including B2B settlements, digital asset trading, remittances, and Web3 payments. EJPY is expected to "generate transactions based on actual demand," a forward-looking statement that still relies on partners, users, and relevant approvals.
The Japan Open Chain is operated by 14 validator nodes, including Dentsu, NTT Communications, G.U. Technology, SBINFT, Pacific Meta, and Nethermind. The network plans to expand to 21 validator nodes over time. Its native token, JOC Coin, was listed on the Zaif exchange in February 2026, providing another domestic trading platform for the ecosystem.
Trust model aids large transfers
This is crucial for corporate settlements. Large enterprises require fast high-value transfers, clear legal handling, and quick redemption services before using stablecoins in their daily finances. The foundation has not disclosed the trustee, processing company, release date, or final service list. It also emphasized that this announcement "does not constitute a sale, offer, or solicitation."
The market for yen-pegged stablecoins in Japan is continuously expanding.