Monex Group is weighing the launch of a yen-pegged stablecoin and is in final talks to acquire a European crypto-related company, signaling a faster push into digital finance. Chairman Oki Matsumoto said in a TV Tokyo interview that the group must act on stablecoins or risk falling behind.

Yen-Pegged Digital Currency on the Horizon

Matsumoto said Monex is considering issuing a stablecoin backed by Japanese government bonds and redeemable one-to-one with the yen. He pointed to international remittances and corporate settlements as likely use cases.

The company plans to draw on its local crypto exchange Coincheck and Monex Securities brokerage to expand the offering. “Issuing a stablecoin requires significant scheming and capital, but if we don’t handle it, we won’t be able to keep up with the times,” Matsumoto said.

Stablecoin projects are gathering pace in Japan after regulators eased rules last year. The Financial Services Agency approved startup JPYC as the first domestic issuer this month, while SBI Holdings and Sumitomo Mitsui Banking Corporation have announced plans to explore issuance. Circle’s USDC was also cleared for local use in March.

The shift mirrors global trends. This summer, the United States passed legislation to boost credibility for dollar-pegged tokens.

Global Expansion Strategy

Matsumoto added that Monex is close to announcing the purchase of a European blockchain company, with final negotiations underway. The deal would follow the Nasdaq listing of Coincheck Group last December, which the chairman said would support further acquisitions abroad.

By pursuing overseas deals first, Monex aims to create global synergies that strengthen its position in Japan’s growing digital asset sector.

Source: Finance Magnates