The Japan Blockchain Foundation has announced the launch of EJPY, a yen-backed stablecoin, as competition intensifies in Japan's digital asset market. EJPY will be available on Japan Open Chain and Ethereum, utilizing a trust-type structure to bypass transaction limits that affect other Japanese stablecoins. This development aims to bolster B2B settlements, digital asset payments, and Web3 transactions. Japan's stablecoin market has seen rapid growth following regulatory changes in 2023, with major banks and blockchain firms vying for dominance. EJPY's trust-based model offers fewer restrictions, potentially appealing to larger institutional transfers. The foundation plans to issue EJPY later this year, further fueling the competitive landscape of Japan's digital payments sector.