Monex Group, a Japanese financial services company, is contemplating the issuance of yen-pegged stablecoins in response to the increasing interest in digital currencies.
Monex Group's Plans for Stablecoins
Chairman Oki Matsumoto stated in an interview that the company is considering launching stablecoins backed by yen. Should a decision be made, these tokens would be supported by assets such as Japanese government bonds.
The Need for Adaptation
Matsumoto emphasized that "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." The stablecoins are intended to be backed by real assets on a 1:1 ratio to facilitate cross-border and corporate payments.
Expansion into the European Market
In addition to stablecoin plans, Matsumoto revealed intentions to consider acquiring a European crypto-focused company. More details will be announced in the coming days regarding this initiative.
Thus, Monex Group continues to take active steps in the development of digital currencies and expanding its market presence, indicating the significance of the cryptocurrency transformation in Japan.
