Monex Group, a main Japanese financial service company, is preparing to enter the Stablescoin market by considering the launch of a point -to -point stable in Yen supported by Japanese government obligations. This initiative, described by President Oki Matsumoto in a recent Tokyo interview, reflects the company’s strategy to remain competitive in a rapid digital financial landscape. Matsumoto stressed the importance of such a decision, declaring that not adapting could leave the company “left behind”. The stablecoin would operate on a 1: 1 buyout basis with the Yen and could be used for sending international funds, corporate regulations and potentially decentralized financing requests (DEFI) (1).
Monex Group plans to take advantage of its existing infrastructure, including its property of Crypto Exchange Coincheck and its brokerage Monex Securities, to support the initiative. These platforms will serve as key distribution channels for Stablecoin, aligning with the broader digital transformation efforts of the company. The potential of a Stablecoin on the back of Yen is also supported by the regulatory environment of Japan, which has recently become more accommodating. At the beginning of 2025, the Financial Services Agency (FSA) approved Jpyc, the first national transmitter of Stablecoin, signaling a transition to regulatory clarity and the expansion of the industry (2).
This regulatory green light has prompted other Japanese institutions to explore similar projects. For example, Sumitomo Mitsui Banking Corporation (SMBC), the second largest bank in Japan, has teamed up with Ava Labs and Fireblocks to develop a shield in Yen which should be launched during the coming year. Meanwhile, SBI Holdings, a major player in the Japanese cryptocurrency sector, has also announced its intention to issue its own digital currency. These developments highlight an increasing consensus among financial institutions that stablecoins can improve the efficiency of payments and financial services (3).
The ambitions of the Stablecoin of Monex are part of a broader global strategy, in particular a planned acquisition of a European company linked to cryptography. According to Matsumoto, the acquisition is approaching finalization, with a potential announcement expected in a few days. This decision would follow the NASDAQ list of Monex Europe Holdings (MEHL), which offers additional capital and strategic flexibility for the group’s international expansion. Despite the publication of a loss before tax of 2.3 million pounds sterling in 2024, the company continued to invest in technological improvements and to restructure to strengthen its position on the European foreign exchange market (2).
The landscape of the stables of Japan evolution is also shaped by wider regulatory and market changes. FSA’s decision to raise the ban on foreign stabins in 2023 and its circle approval USDC At the beginning of 2025, paved the way for increased competition and innovation. In addition, Japan has started to align with global trends, such as American legislative efforts to establish a legal framework for stablecoins in dollars. These developments indicate that Japan is positioned as a key player in the global digital asset ecosystem (1).
Analysts suggest that a Stablecoin on Yen’s back could offer several advantages compared to traditional financial instruments. Its stability makes it an attractive option for companies seeking to reduce exposure to volatile assets, while its integration potential in DEFI platforms could promote innovation in financial services. In addition, the use of blockchain technology could rationalize cross -border transactions and reduce costs compared to conventional banking systems. If Monex successfully launches its stablecoin, it could establish a precedent for other Japanese institutions and establish a numeric standard, potentially competing with American staboins with a dollar in the region (7).
The potential approval and adoption of a Stablecoin on the back of Yen could also have broader economic implications for Japan. It can support the country’s efforts to modernize its financial infrastructure, reduce dependence on cash and improve its role in the Asia-Pacific financial ecosystem. While Jpyc and other projects are gaining ground, Japan could emerge as a counterweight to Chinese E-CNY and other regional digital currency initiatives, strengthening its influence in Indo-Pacific. However, the success of these efforts will depend on regulatory continuity, institutional adoption and the integration of stablecoins in traditional financial systems in Japan (5).
Source:
(1) The Monex group of Japan considers the launch of the stablecoin of Yen-Pegged (https://cointelegraph.com/news/japan-monex-group-considers-launching-yen-pegged-stablecoin)
(2) The Monex group weighs Stablecoin on the back, provides for the European acquisition of Crypto (https://www.financemagnates.com/institutional-forex/monex-group-weighs-yen-backed-stablecoin-plans-european-crypto-acquisition/)
(3) The first Stablecoin gains from Japan yen are the support of Monex (https://www.ccn.com/news/business/monex-joint-fush-for-jpy-stablecoin/)
(4) Ripple Partners SBI for the distribution of Japan Stablecoin (https://fintechmagazine.com/news/ripple-partners-sbi-for-japan-stablecoin-distribution)
(5) How the Jpyc Stablecoin could lead the return of Japan’s digital finance (https://thediplomat.com/2025/08/how-jpyc-tablecoin-could-lead-japans-digital-finance-comeback/)
(6) Ripple and SBI to launch Rlusd Stablecoin in Japan by 2026 (https://thedigitalbanker.com/ripple-and-sbi-to-to-la-lanch-rlusd-stablecoin-in-japan-by-2026/)
(7) The MONEX group provides for Stablecoin in Yen while Japanese regulators open the way to national digital currency innovation (
