Japan Blockchain Foundation Co., Ltd. to Issue Trust-Type JPY-Pegged Stablecoin "EJPY"
～Driving the Social Implementation of B2B and Digital Asset Settlements with Japan Open Chain as the Core Infrastructure～
Japan Blockchain Foundation, Co., Ltd. (Representative: Daimei Inaba), the operator and administrator of the consortium behind Japan Open Chain (JOC), a fully Ethereum-compatible public blockchain operated by Japanese enterprises, is pleased to announce its official decision to issue the JPY-pegged stablecoin "EJPY" on Japan Open Chain and Ethereum. This decision comes as the structuring of its trust-type scheme has taken definitive shape.
The Company has been engaged in concrete discussions with the prospective trustee business, based on the premise of an issuance via a trust-type scheme in which the Company acts as the settlor. These discussions cover issuance and redemption, management of trust assets, system requirements, and compliance with laws and regulations.
Now that the trust-type scheme required for the issuance of EJPY is in place, the Company will further accelerate preparations for the issuance and circulation of EJPY on JOC.
◽️ About [EJPY]
EJPY is a JPY-pegged stablecoin whose issuance and circulation are primarily being prepared on JOC. The issuance and circulation of EJPY are expected to generate transactions based on real demand on JOC, including B2B settlements, digital asset settlements, remittances, and payments in various Web3 services. Through EJPY, the Company aims to evolve JOC beyond a mere blockchain platform into a payment infrastructure accompanied by the transfer of actual value.
Furthermore, while positioning JOC as the core platform for the issuance and circulation of EJPY, we will also consider multi-chain compatibility to build a stablecoin circulation environment that is highly accessible to domestic and international businesses.
Regarding the handling of EJPY for users, we assume collaboration with Electronic Payment Instruments Service Providers. We also envision that practical operations such as sales, transfers, and redemptions will be provided under an appropriate operational structure based on relevant laws and regulations.
In recent years, use cases such as B2B payments, cross-border payments, digital asset settlements, and regional/municipal-related payments leveraging stablecoins have garnered attention both domestically and internationally. Through EJPY, the Company will establish a highly reliable digital payment infrastructure compliant with Japanese law, promoting the social implementation of a next-generation payment infrastructure that can be safely utilized by enterprises, financial institutions, and local governments.
Going forward, the Company will proceed with collaborations with trustees, Electronic Payment Instruments Service Providers, financial institutions, operating companies, local governments, and system partners to accelerate preparations for the issuance, circulation, and user expansion of EJPY.
Please note that this announcement is solely to provide information on the preparation status toward the issuance of EJPY; it does not constitute a sale, offering, or solicitation for specific Electronic Payment Instruments at this time. The actual issuance and handling commencement dates, issuance terms, handling businesses, target blockchain platforms, and available services will be formally announced once determined, following discussions with relevant authorities and related businesses, and the completion of necessary procedures.
◽️ Comment from Representative
Stablecoins are positioned to be the core of next-generation financial infrastructure, enabling the actual transfer of value on blockchains.
Our company has nurtured Japan Open Chain into a blockchain platform that Japanese companies can actually use in their businesses. We believe that advancing preparations toward the issuance of the JPY-pegged stablecoin "EJPY" is a crucial step in evolving JOC into a financial infrastructure where actual settlements, remittances, and transactions take place.
Initially, we will focus our preparations on its issuance and circulation on JOC, driving the creation of use cases based on actual demand, such as B2B payments, digital asset settlements, and cross-border payments.
Through EJPY, the Company aims to contribute to the social implementation of a digital payment infrastructure safely usable by enterprises, financial institutions, and local governments by establishing a highly reliable stablecoin foundation compliant with Japanese law, ultimately working toward the construction of a seamless financial system.
◽️ "Japan Open Chain": A Blockchain Originating from Japan
Japan Open Chain is a practical, Ethereum-compatible (Layer 1) public blockchain operated by Japanese companies. Together with leading industry giants and Web3 innovators, it aims to provide a secure, high-speed, and low-cost blockchain infrastructure accessible to users worldwide. This project seeks to revolutionize global digital finance by building future financial infrastructure through initiatives like bank-led stablecoin projects and the digitization of assets such as NFTs.
The blockchain is currently operated by 14 validators (blockchain operation partners), including Dentsu Inc.; NTT Communications from the NTT Group; G.U.Technologies, Inc.; insprout Corporation; Kudasai Co., Ltd.; pixiv Inc.; TIS Inc.; extra mile Inc., a TV Asahi Group company; Kyoto University of the Arts; Hatena Co., Ltd.; CAC Corporation; CYBERLINKS CO.,LTD.; SBINFT Co., Ltd.; Pacific Meta Inc. and Nethermind. The blockchain is managed in a decentralized manner and is expected to expand to 21 validators in the future.
Project website: https://www.japanopenchain.org
◽️ About Japan Blockchain Foundation Co., Ltd.
Japan Blockchain Foundation Co., Ltd. operates and manages the consortium for "Japan Open Chain," a business-oriented blockchain designed to address social challenges through blockchain technology. This initiative is run by trusted Japanese companies in compliance with Japanese law.
To ensure the safe and appropriate use of blockchain technology, the foundation develops and operates various types of blockchains tailored to business objectives, including private chains, consortium chains, and public chains.
[ Company Overview ]
Company Name ：Japan Blockchain Foundation Co., Ltd.
Location ：26-1 Sakuragaoka-cho, Shibuya-ku, Tokyo, Japan
Representative ：Representative, Daimei Inaba
Founded ：April, 2018
URL ：https://www.jbfd.org/
Business Overview ：Operation and Management of Web3 Infrastructure
◽️ For Inquiries Regarding This Press Release
We welcome interview and speaking engagement requests. Please feel free to reach out.
Japan Blockchain Foundation Co., Ltd. - Public Relations
Inquiry Form: https://www.japanopenchain.org/contact
Images and logos in this press release may only be used for reprinting related to this release.