Japan’s Monex Group considers launching yen-pegged stablecoin

Tokyo-based Monex Group is weighing the launch of a yen-pegged stablecoin, with its chairman, Oki Matsumoto, citing the need to keep pace in digital finance.

Tokyo-based publicly traded financial services company Monex Group is considering a Japanese yen-pegged stablecoin.

According to a Tuesday TV Tokyo report, Monex Group Chairman Oki Matsumoto told the outlet that the company is considering issuing a yen-pegged stablecoin in Japan.

“Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind,” Masumoto said. He concluded:

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