TLDR
- Monex to launch yen-backed stablecoin, eyes Europe deal for global expansion
- Monex bets on yen-pegged stablecoin, advancing Japan’s crypto leadership push
- Monex confirms yen stablecoin plan, finalizing Europe buy to boost presence
- Monex rides Japan’s new rules with yen stablecoin, expands reach in Europe
- Monex unveils yen-pegged stablecoin strategy, pairing it with EU acquisition
Monex Group has confirmed plans to issue a yen-pegged stablecoin and is finalizing an acquisition in Europe. The company aims to strengthen its digital asset strategy while enhancing its overseas presence. This move follows broader regulatory changes that now favor stablecoin issuance within Japan.
Stablecoin Initiative Anchored to the Yen
Monex Group is preparing to launch a stablecoin fully backed by Japanese government bonds and redeemable one-to-one with the yen. The company intends to use the stablecoin for international remittances and business settlements across its platform. To support this, Monex will leverage its local subsidiaries Coincheck and Monex Securities.
This digital currency effort reflects Japan’s newly relaxed stance on stablecoin issuance, which was introduced last year. Monex now sees a clear opportunity to lead in the domestic market before others gain momentum. Competitors, including SBI Holding and Sumitomo Mitsui Banking Corporation, are also working on similar projects.
The stablecoin will require substantial infrastructure, capital, and regulatory coordination across Japan’s financial system.The company views this as a strategic investment in future-proofing its financial services. Local crypto exchange Coincheck is expected to serve as the token’s distribution and trading platform.
Regulatory Tailwinds Boost Domestic Issuance
Japan’s Financial Services Agency (FSA) has begun approving stablecoin issuers under its revised framework. Startups like JPYC received their first greenlight this month to launch yen-backed digital assets. This marks a significant milestone in Japan’s approach to fiat-backed cryptocurrencies.
The legal clarity comes after the FSA lifted a ban on foreign-issued stablecoins in 2023. Policy updates followed recommendations made in February, enabling Japanese companies to issue or use fiat-pegged tokens. As a result, Circle’s USDC was approved for local use in March through SBI’s crypto arm.
Monex’s move comes amid these favorable shifts, placing it in direct competition with new and established issuers. The broader stablecoin trend now mirrors developments in the United States and Europe. Legislators globally are recognizing the growing demand for regulated, asset-backed digital tokens.
European Acquisition Nearing Completion
Monex is also pursuing international growth by acquiring a blockchain firm in Europe. Final negotiations for the acquisition are in progress, with an official announcement expected soon. This acquisition follows the Nasdaq listing of Coincheck Group in late 2024.
The company has outlined a plan to grow its European footprint by building out financial infrastructure and compliance capabilities. Monex Europe Holdings Limited (MEHL) ended 2024 with a narrowed pre-tax loss of £2.3 million. The group attributed this to restructuring and technology investment across the region.
MEHL increased its net trading income to £77.2 million compared to £73.3 million in 2023. The firm said costs stemmed from a “structural reorganization and transformation program” aimed at long-term competitiveness. The company secured licenses in Spain to enable further growth.
Monex’s coordinated push into stablecoins and cross-border expansion aligns with its strategy to evolve into a global fintech player. By combining domestic regulatory momentum with foreign acquisitions, the group seeks to enhance both its crypto and financial services capabilities.
