Toshiba Joins 26 Firms in Japan's EJPY Stablecoin Trial

Toshiba is among 26 companies and financial institutions participating in Japan's six-month EJPY stablecoin trial, which began in September and will run until February 2027. The program aims to test EJPY tokens, wallets, and the Japan Open Chain infrastructure needed to develop and verify potential services.

The Japan Blockchain Foundation is developing EJPY as a trust-based, yen-denominated stablecoin centered on Japan Open Chain, an Ethereum-compatible Layer 1 blockchain operated by a consortium of Japanese companies. Participants will examine potential applications across domestic payments and remittances, cross-border transactions, business-to-business settlements, and payments involving digital assets.

The program is not meant to commit participants to issuing or handling stablecoins but rather to study possible applications and verify the technology before deciding whether to proceed with a product. Participating organizations will receive information on stablecoin regulations, market developments, and use cases already being explored in Japan and overseas.