Japan Blockchain Foundation plans EJPY stablecoin for corporate use on Japan Open Chain and Ethereum

The Japan Blockchain Foundation announced EJPY, a yen-backed stablecoin for Japan Open Chain and Ethereum, aiming to support business transactions and DeFi. It uses a trust-based model to bypass transaction caps, targeting high-value corporate payments. The foundation is finalizing trustee selection and regulatory compliance amid growing competition from other yen-backed stablecoins in Japan's expanding digital yen market. Launch details remain pending regulatory approval and partner confirmations.