Toshiba Joins Yen Stablecoin Pilot Program with Japan Blockchain Foundation

The Japan Blockchain Foundation has launched a pilot program for EJPY, a yen-pegged stablecoin, to explore its practical applications in various industries. The six-month long program will run from September 2026 through February 2027 and involves 26 institutions, including Toshiba, SCSK, and Tagawa City. The foundation aims to demonstrate the viability of stablecoins as next-generation payment infrastructure by providing educational programs and testing environments for participating organizations.

The pilot centers on EJPY, a trust-type yen stablecoin that will be issued by the Japan Blockchain Foundation. Participating institutions will examine the use cases for stablecoins across various applications, including domestic and international remittances and payments, business-to-business transactions, real-world asset (RWA) settlements, and Web3 service payments.

The foundation believes that issuance alone is insufficient to establish stablecoins as a widely accepted form of payment. To support the discovery of commercially viable applications, it will provide participating institutions with educational programs and individual consultations, as well as establish a verification environment where test EJPY can be used.