Tokyo-based financial company Monex Group is thinking about launching a stablecoin, which will be pegged to the Japanese yen.
According to TV Tokyo, Chairman Oki Matsumoto said that issuing a stablecoin requires significant planning and investment, but it is necessary to stay competitive in digital finance. He added, “We will respond appropriately.”
The stablecoin would be backed by assets like Japanese government bonds and could be exchanged 1:1 for yen. It could be used for things like international money transfers and business payments.
Monex plans to use its local crypto exchange, Coincheck, and its securities business to grow this initiative. The company is also considering buying European crypto companies, with an announcement expected soon.
Japan Embraces Stablecoins
Japan’s Financial Services Agency (FSA) is preparing to allow Japanese yen stablecoins later this year, which would be the first domestic fiat-pegged stablecoin in the country. Earlier, Japan also approved the use of the US dollar-backed stablecoin USDC in March. These changes follow Japan lifting its ban on foreign stablecoins in 2023.
Stablecoins are also gaining attention worldwide. In the US, new laws have strengthened dollar-backed stablecoins, while in Japan, companies like JPYC and SBI Holdings are also entering the market.
SBI Holdings recently teamed with Ripple to introduce Ripple USD (RLUSD), a USD-backed stablecoin, in early 2026. The company has also collaborated with Circle to promote USDC and create digital finance services in Japan.
Also Read: Crypto Can Be a Part of Diversified Portfolios: Japan Finance Minister
