Monex Group to Launch Yen-Pegged Stablecoin, Eyeing European Expansion

Japan’s Monex Group, under the leadership of Chairman Oki Matsumoto, is planning to launch a yen-pegged stablecoin backed by Japanese government bonds. This move aims to bolster their competitive advantage and diversify the already-growing market for yen-stablecoins, while potentially expanding operations in Europe. Monex’s strategy follows their recent acquisition of Coincheck and seeks to strengthen their digital asset offerings. )