The Japan Blockchain Association announced its plan to issue EJPY, a Japanese Yen-pegged stablecoin, via the Japan Open Chain (JOC) and Ethereum networks. According to The Block, EJPY is a trust-type Yen stablecoin where the association acts as the settlor. It is currently in discussions with potential stablecoin trustees. The association stated, "Through the issuance and circulation of EJPY, we expect the expansion of actual demand-based transactions on JOC, including B2B payments, cryptocurrency payments and remittances, and payments for various Web3 services."
