Japan Blockchain Foundation to Launch Yen-Pegged Stablecoin on Ethereum and JOC

The Japan Blockchain Foundation has announced plans to launch EJPY, a Japanese yen-pegged stablecoin, on the Ethereum and Japan Open Chain (JOC) blockchains in 2026. The foundation will act as the settlor for EJPY, which is structured as a trust-type stablecoin.

This move comes after the introduction of formal rules for stablecoins in Japan in 2023, when JPYC became the country's first approved yen stablecoin. Since then, multiple major financial institutions have established their own positions in the market.

EJPY is intended to support business-to-business settlements, digital asset settlements, remittances, and payments across Web3 services. The foundation aims to complete the launch within 2026, but a specific issuance timeline has not been determined.