PANews reported on May 13th that, according to The Block, the Japan Blockchain Foundation announced it will issue a yen-pegged stablecoin, EJPY, on the enterprise consortium blockchain Japan Open Chain and Ethereum. EJPY will employ a trust structure, with the foundation acting as the settlor and currently in talks with potential trustees. The stablecoin will be used for B2B settlements, digital asset settlements, remittances, and Web3 service payments, and multi-chain compatibility will be considered in the future. Japan Open Chain is operated by 14 validators, including Dentsu and NTT Communications. Trust-based stablecoins are not subject to the 1 million yen remittance limit per transaction. The issuance timeline is yet to be determined, but the foundation aims to launch the issuance within the year. Previously, SBI Holdings launched the trust-based stablecoin JPYSC, and the three major banks are also advancing stablecoin and tokenized deposit pilot programs.