Japan’s Monex Group, a Tokyo-based financial services powerhouse and publicly traded company, is considering launching its own yen-pegged stablecoin. Chairman Oki Matsumoto revealed in a recent interview with TV Tokyo that the firm is exploring the move, stressing that stablecoins are becoming too important to ignore. “Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind,” Matsumoto said, confirming the group will “respond properly.”

If launched, Monex’s stablecoin would be backed by secure assets such as Japanese government bonds and pegged 1:1 to the yen. Like other stablecoins, it would be designed for uses including international remittances and corporate settlements, potentially modernizing payments across borders. Monex is expected to leverage its subsidiaries, including leading Japanese crypto exchange Coincheck and its securities brokerage arm, to support the rollout.

In addition to stablecoin plans, Matsumoto hinted at an aggressive expansion strategy. He revealed Monex is in final talks to acquire European crypto companies, with an official announcement expected soon. This follows Coincheck Group, the parent of Coincheck, making its public debut on Nasdaq late last year, strengthening Monex’s international reach.

The timing is crucial. Japan’s Financial Services Agency (FSA) is preparing to approve yen-based stablecoins as early as this fall, marking the first time the country will allow a domestic fiat-backed digital currency. The move comes after the FSA eased rules in 2023 by lifting its ban on foreign stablecoins. Earlier this year, Circle’s USDC was approved for use in Japan, reflecting the regulator’s push to embrace blockchain-based finance.

With regulatory green lights and strategic global acquisitions, Monex’s potential yen stablecoin could position the company as a leader in Japan’s digital finance revolution.