26 Companies Including Toshiba Join Japan's Blockchain-Based Stablecoin EJPY Pilot

On September 24, the Japan Blockchain Foundation, which operates the Japan Open Chain (JOC) consortium, announced the launch of a program called "Stablecoin Demonstration Experiment Partners" to jointly explore the use cases of stablecoins with business companies, financial institutions, and local governments.

Since the start of recruitment, 26 companies have already expressed their participation. The program will explore the potential applications of stablecoins in various fields, including domestic and international remittances and payments, inter-company transactions, digital asset (RWA) settlements in real estate, and payments in Web3 services, free of charge for about six months, from September 2026 to February 2027.

Among the companies that have announced their participation are Toshiba, SCSK, Asahi Broadcasting Group Holdings, the local bank Hachijuni Bank, and the city of Tagawa in Fukuoka Prefecture, totaling 16 companies, with the remaining 10 companies to be announced sequentially in the future.

The company states that simply issuing stablecoins is not sufficient for them to establish themselves as the next-generation payment infrastructure.

It explains that it is crucial to concretize how they will be used in actual business and services and what value they will generate.

Focusing on the upcoming trust-based Japanese yen-denominated stablecoin "EJPY," the company will support participating companies in creating use cases through study sessions, individual consultations, and the provision of a testing environment using test coins.

The Japan Blockchain Foundation had revealed its plan to issue EJPY in May 2026. At the time of the announcement, the validators (blockchain operating partners) included 14 companies such as Dentsu and pixiv, with plans to ultimately establish a system of 21 companies. According to the ecosystem list on the official website, currently, 9 companies are listed.

In Japan, there are two yen-denominated stablecoins, SBI's trust-based JPYSC and JPYC, with a total issuance amount reaching approximately 31 billion yen.

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