Pharos can still tell you how this asset is supposed to work, when it expects to launch, and what sources to watch. Live market, peg, liquidity, and safety surfaces activate only after the first post-launch data sync.
Announced May 13 2026 by Japan Blockchain Foundation Co., Ltd. (JBFD), operator of Japan Open Chain (JOC), as a trust-type JPY-pegged stablecoin. Structured as a Type III electronic payment instrument under Japan's Payment Services Act — exempt from the ¥1M/transaction cap that constrains fund-transfer-type issuers such as JPYC — with JBFD as settlor and reserves to be held by a licensed trust bank (trustee in active negotiation, not yet named). Targeted for issuance and circulation on JOC within FY2026 (through March 2027), with Ethereum next and broader multi-chain expansion under consideration; actual issuance and handling dates to be formally announced once determined. Aimed at B2B payments, remittances, and settlement. Reserve composition not yet disclosed.
EJPY (EJPY) Pre-launch Stablecoin Tracker
EJPY
At a Glance
- Backing
- Real-World Asset Backed
- Governance
- Centralized (CeFi)
- Peg Currency
- Japanese Yen
- Jurisdiction
- Japan (Financial Services Agency (FSA))
Launch Timeline
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Japan Blockchain Foundation decides to issue trust-type yen stablecoin EJPY
JBFD announces a trust-type JPY-pegged stablecoin for Japan Open Chain and Ethereum, with the trust scheme structure clarified and a trustee under negotiation; issuance targeted within FY2026.
SourceThe Trust-Bank Yen That Skips the Cap
EJPY is Japan Blockchain Foundation's pre-launch yen stablecoin, and its whole pitch is a legal classification: a trust-type Type III electronic payment instrument that escapes the ¥1M-per-transaction ceiling JPYC has spent years working around. JBFD — the consortium operator behind Japan Open Chain — would be the settlor, with reserves parked in a licensed trust bank that, as of the May 2026 announcement, it is still negotiating with and has not named. That gap is the tell: trust-segregated and statutory rights are the entire value proposition, yet the trustee, the reserve mix, and the launch date are all blank. The plan is to issue on Japan Open Chain first and Ethereum next, sometime within fiscal 2026 (which runs through March 2027), aimed squarely at B2B settlement rather than retail DeFi. EJPY is a credible institutional play in a market suddenly crowded with yen-stablecoin contenders — JPYSC, JPYC, and a megabank consortium all circling the same FSA framework — but right now it is a decision to issue, not a token you can hold.
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Japan Blockchain Foundation to Issue Trust-Type JPY-Pegged Stablecoin EJPY
JBFD decides to issue EJPY, a trust-type yen stablecoin, on Japan Open Chain and Ethereum, targeting issuance within FY2026.
Japan's enterprise-led blockchain to issue yen stablecoin for B2B settlements
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