TheBlock
The Japan Blockchain Foundation has announced EJPY, a trust-type Japanese yen-pegged stablecoin designed specifically for business-to-business settlements. The token will be issued on both Ethereum and Japan Open Chain — a Layer 1 blockchain operated by local Japanese enterprises — giving it a dual-rail infrastructure that bridges global DeFi liquidity with a domestically governed network.
The trust-type structure is significant: it places EJPY within Japan's existing financial regulatory framework, distinguishing it from algorithmic or reserve-backed models and signalling a deliberate compliance-first approach. For corporate treasurers and settlement desks, that legal clarity is often the deciding factor in adoption.
Japan has been one of the more methodical jurisdictions in building out stablecoin regulation, and EJPY represents the first major enterprise-grade yen stablecoin to…
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