Japan's Monex Group considers launching a yen-pegged stablecoin

Jinse Finance reported that Tokyo-listed company and financial services firm Monex Group has announced it is considering launching a yen-pegged stablecoin. According to Monex Group, the proposed yen-pegged stablecoin will be backed by assets such as Japanese government bonds and can be exchanged for yen at a 1:1 ratio. Potential use cases include cross-border remittances and corporate settlements. Monex Group owns a Japanese cryptocurrency exchange and operates a domestic brokerage business. The group plans to leverage these two business segments to advance the stablecoin project.