Coincheck Parent Monex Eyes Yen-Pegged Stablecoin Launch—Japan’s Crypto Evolution Accelerates
Monex Group—the powerhouse behind crypto exchange Coincheck—is making moves to issue a yen-pegged stablecoin. This isn't just another digital asset—it's a strategic play to bridge traditional finance and blockchain innovation.
Why Stablecoins Matter
Stablecoins offer the speed of crypto without the wild volatility. A yen-backed version could revolutionize remittances, trading, and everyday payments in Japan—and beyond.
The Regulatory Landscape
Japan's Financial Services Agency (FSA) has been cautiously supportive of crypto innovation. Monex’s push signals growing institutional confidence—and a nod toward broader adoption.
Timing and Impact
With global stablecoin markets exploding, Monex’s entry could position Japan as a leader in Asia’s digital currency race. It’s a bold bet—on regulation, technology, and market demand.
Of course, if there’s one thing finance loves, it’s creating new forms of money to solve problems that older forms of money supposedly created. But hey—progress, right?
Yen-Pegged Stablecoin Under Consideration
Matsumoto emphasized that such a step has become unavoidable as global financial markets rapidly adapt to digital currencies, saying, “Without tackling stablecoins, we cannot keep up with the world. “
Monex Group, founded in Tokyo in 1999, has grown into a global online securities firm and fintech platform. It has notably expanded into digital assets by acquiring Coincheck and investing in Web3 innovation.
Japanese government bonds WOULD reportedly back the proposed yen-denominated stablecoin. The stablecoin could support cross-border remittances, corporate payments, and retail transactions. To drive adoption, Monex would leverage its existing platforms, including Coincheck and Monex Securities.
Growing Regulatory Momentum in Japan and Abroad
Monex’s consideration comes amid a wave of regulatory and industry momentum surrounding stablecoins. In July, the US Congress passed the “Genius Act,” granting dollar-pegged stablecoins legal recognition as currency. Observers view the law as a milestone that brings stability and legitimacy to the sector, encouraging wider adoption among banks and payment companies.
Japan is also moving swiftly. Earlier this month, the Financial Services Agency(FSA) authorized startup JPYC as the nation’s first licensed stablecoin issuer. At the same time, SBI Holdings announced a partnership with Sumitomo Mitsui Banking Corp. to explore stablecoin distribution. These developments underscore Japan’s commitment to building a regulatory framework that balances innovation with investor protection.
In addition to stablecoins, Monex is stepping up its pursuit of overseas acquisitions. Matsumoto disclosed that the company is in final talks to acquire a European blockchain-related firm, with an announcement expected within days. The MOVE follows Monex’s decision to list Coincheck Group on Nasdaq last December, which Matsumoto described as the starting point for a global expansion strategy.
