TLDR:
- Monex is considering a yen-pegged stablecoin backed by Japanese government bonds for remittances and payments.
- The Financial Services Agency recently approved JPYC as Japan’s first regulated stablecoin issuer.
- Monex is finalizing talks to acquire a European blockchain firm, with an announcement expected soon.
- The company aims to leverage Coincheck’s customer base while expanding its international footprint through acquisitions
Monex Group is preparing moves that could reshape its crypto strategy at home and abroad.
The Tokyo-based securities firm is weighing the launch of a yen-pegged stablecoin while also moving forward with a European acquisition. These developments signal an expansion into blockchain-backed payments and international deals.
The company’s chairman confirmed the plans in a recent television interview. Momentum around stablecoins is building fast in Japan and beyond, and Monex is trying not to be left behind.
Monex Stablecoin Plan Targets Crypto Payments and Remittances
In an interview with TV Tokyo, board chairman Oki Matsumoto said Monex is exploring the issuance of a domestic stablecoin.
He explained that such a project requires resources and planning but stressed that timing is critical. The company believes a yen-pegged token could strengthen both remittance services and corporate settlement options.
The stablecoin would reportedly be backed by assets such as Japanese government bonds. Monex expects the coin to hold a one-to-one exchange rate with the yen, offering stability against volatile crypto prices. The aim is to make international payments faster and less expensive for both businesses and retail users.
Stablecoins are considered crypto assets under Japanese law since they use blockchain infrastructure. However, they carry reduced price swings compared to tokens like Bitcoin. They also allow near-instant settlement across borders without high transaction costs, making them attractive for daily use cases.
Competition is already heating up in Japan’s market. Earlier this month, the Financial Services Agency cleared startup JPYC to issue the country’s first approved stablecoin.
Meanwhile, SBI Holdings and Sumitomo Mitsui Banking Corporation confirmed joint discussions on stablecoin distribution. Monex intends to leverage its Coincheck and Monex Securities customer base to gain traction.
European Crypto Deal on the Horizon
Alongside its domestic plans, Monex is closing in on a European acquisition. Matsumoto said an announcement could come within days. Talks appear centered on a blockchain-focused company that could provide new capabilities and international reach.
This push follows Monex’s earlier decision to list Coincheck Group on Nasdaq in December of last year. The listing was part of a wider strategy to strengthen global exposure and attract overseas investors. Expanding through acquisitions is now seen as the next step.
Matsumoto’s approach is to secure overseas deals first, then apply that expertise to the domestic business. By doing so, Monex hopes to build synergies between its international operations and Japan’s growing stablecoin ecosystem. The company also sees acquisitions as a way to stand apart from competitors in the domestic securities sector.
Stablecoin adoption is accelerating worldwide. In the United States, the Genius Act passed in July, setting clear rules for dollar-pegged tokens. By pursuing both a yen-backed coin and a European crypto company, Monex is positioning itself to capture momentum on multiple fronts.
The post Yen Stablecoin on Deck: Monex Gears Up in Japan as European Deal Looms appeared first on Blockonomi.
Source: https://blockonomi.com/yen-stablecoin-on-deck-monex-gears-up-in-japan-as-european-deal-looms/