May 13
Japan's enterprise-led blockchain to issue yen stablecoin for B2B settlements
The stablecoin is designed to be issued on Ethereum and Layer 1 public blockchain Japan Open Chain, which local enterprises operate.
➤ Japan Blockchain Foundation will launch EJPY, a Japanese yen-pegged stablecoin, on Ethereum and the enterprise-operated Japan Open Chain (JOC). ➤ The 'trust-type' structure aims to avoid transaction limits, facilitating B2B settlements, remittances, and payments within Web3 services. ➤ This initiative aligns with Japan's accelerated stablecoin development following 2023 regulations, with other major financial players also exploring yen-linked offerings.