The Japan Blockchain Foundation plans to issue a stablecoin, EJPY, on Ethereum to advance compliant digital financial infrastructure.

According to Mars Finance, on May 13th, the Japan Blockchain Foundation is preparing to launch EJPY, a stablecoin pegged to the Japanese yen, on the Ethereum network. This move is another step in Japan's gradual expansion of its regulated digital currency infrastructure. The plan aims to create a blockchain-based yen-representative asset to support programmable payments, digital settlements, and tokenized financial applications. The foundation stated that EJPY will be issued on Ethereum, with the organization acting as the settlement entity behind the token. The project is positioned as part of a broader effort to modernize Japan's financial infrastructure using public blockchain networks, rather than closed, permissioned systems. Japan, with its early implementation of a digital currency legal framework, is one of the most structurally sound jurisdictions in the global stablecoin competition. The launch of EJPY reflects Japan's strategy of integrating digital currencies into its financial system through a regulated structure. Choosing to issue on Ethereum rather than building a proprietary blockchain facilitates the integration of the stablecoin with existing DeFi, tokenization, and settlement infrastructure, and also demonstrates the growing institutional recognition of public blockchains as a viable layer of financial infrastructure.