Brad Garlinghouse, CEO of Ripple, has expressed optimism about the future demand for stablecoins tied to the Japanese yen, predicting that it is only a matter of time before such digital currencies gain traction in Japan.
“People will want to hold yen stablecoins, and I think that is only a matter of time,” Garlinghouse stated during a recent interview with Bloomberg’s The China Show on 7th September.
Garlinghouse described Japan as a market that, while conservative in certain respects, offers a robust environment for entrepreneurial activity. He highlighted Japan’s progressive stance on regulatory clarity around both stablecoins and cryptocurrencies as a key factor driving this growth.
“Japan has really embraced regulatory frameworks for digital assets, which has allowed entrepreneurship and investment to flourish here,” Garlinghouse remarked. In contrast, he noted that the United States has lagged behind other countries such as Japan, the United Kingdom, and Switzerland in providing clear regulations for the cryptocurrency industry.
Despite the promising outlook for yen stablecoins, Garlinghouse clarified that Ripple’s immediate focus is on launching a US dollar-backed stablecoin. “We are committed to working closely with US regulators to ensure that we’re aligned before going live with the stablecoin,” he said. Ripple plans to introduce the stablecoin in the United States before exploring opportunities in other regions, including Japan.
The Ripple CEO also pointed out that the company remains on track to launch the stablecoin within the year, reinforcing Ripple’s global ambitions for stablecoins, particularly in markets like Japan.
