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Japan Prepares Yen Stablecoin EJPY on Japan Open Chain
Japan is set to launch a yen stablecoin called EJPY based on trust, using the Japan Open Chain network, a public layer 1 compatible with Ethereum.
This network is operated by a consortium of 14 major company validators, including Dentsu, NTT Communications, and SBINFT.
The EJPY stablecoin is designed for various use cases, ranging from business settlement, digital asset payments, remittances, to Web3 needs. The main focus is to create real demand within the on-chain ecosystem, especially for institutional use.
The launch of EJPY is planned for 2026, as part of Japan's strategic move to develop blockchain-based digital financial infrastructure.
This development also reflects Japan's relatively open approach to trust structures within financial regulation, enabling integration between traditional systems and new technology.
EJPY is considered a structural step toward programmable money based on yen, although its impact is likely to be more felt in the long term as infrastructure rather than an immediate catalyst for the market.