Toshiba Joins Japan Blockchain Foundation's Stablecoin Pilot Program with 25 Other Institutions
The Japan Blockchain Foundation has launched a pilot program to test the practical application of EJPY, a yen-pegged stablecoin. The 'Stablecoin Pilot Partners' program brings together 26 institutions, including Toshiba and SCSK, to explore various use cases for stablecoins over six months.
From September 2026 through February 2027, participants will examine the viability of EJPY across domestic and international remittances and payments, business-to-business transactions, real-world asset settlements, and Web3 service payments. The foundation plans to provide educational programs and a testing environment to support the discovery of commercially viable applications.
The pilot program centers on EJPY, a trust-type yen stablecoin that the Japan Blockchain Foundation is preparing to issue. The foundation believes that issuance alone is insufficient for stablecoins to become established as next-generation payment infrastructure. To demonstrate their value, participating institutions will explore use cases within actual business operations and services.
Two yen-pegged stablecoins are currently in circulation: SBI's trust-type JPYSC and JPYC, with combined issuance totaling approximately ¥31 billion (approximately $196.1 million).