Tokyo-based financial services firm Monex Group is considering issuing a Japanese yen-pegged stablecoin, according to a report from TV Tokyo.
Chairman Oki Matsumoto said the move is being weighed carefully, acknowledging both the challenges and the potential risks of not acting.
“Issuing stablecoins requires significant infrastructure and capital, but if we don’t handle them, we’ll be left behind,” Matsumoto explained. He added that the company “will respond properly.”
Backed by Bonds and Pegged 1:1
If launched, the Monex stablecoin would be backed by assets such as Japanese government bonds. Similar to other stablecoins in the market, it would be redeemable on a one-to-one basis with the yen.
The coin is expected to serve practical uses, including international remittances and corporate settlements, offering companies and individuals a stable digital option for transactions.
Leveraging Coincheck and Brokerage Network
Monex Group plans to use its existing businesses to support the stablecoin initiative. This includes Coincheck, the local crypto exchange owned by Monex, and the company’s securities brokerage arm.
These platforms are expected to provide a base for rolling out the stablecoin and integrating it into Japan’s financial ecosystem.
European Expansion Plans
Alongside its stablecoin ambitions, Monex is also exploring expansion overseas. Matsumoto revealed that the company is in the final stages of talks to acquire European crypto-related firms.
He suggested that an announcement could come “within a few days,” signalling a push to strengthen the group’s presence in Western markets.
This comes after Coincheck Group, the parent company of Coincheck, went public on the Nasdaq stock exchange late last year, marking a significant step in Monex’s international growth.
