Japan Blockchain Foundation launches EJPY stablecoin trial with 26 partners

The Japan Blockchain Foundation has launched a six-month demonstration program involving 26 companies, financial institutions, and local governments to test the social implementation of the yen-denominated stablecoin, EJPY.

The program, which began in September 2026 and is scheduled to run through February 2027, aims to verify various use cases including domestic and cross-border remittances, business-to-business transactions, digital asset settlements (such as Real World Assets and security tokens), and Web3 services. Participants will utilize test tokens, wallets, and the Japan Open Chain (JOC) infrastructure, an Ethereum-compatible public blockchain.

Among the 16 companies currently named are Toshiba, Hachijuni Nagano Bank, SCSK, QUICK, Seiko Solutions, Asahi Broadcasting Group Holdings, Tobu Top Tours, and Tagawa City. An additional 10 participants are expected to be announced following further discussions. EJPY is being developed as a trust-type stablecoin, which allows for high-value transactions without the per-transfer limits typically associated with funds transfer services.