According to Golden Finance, Ripple CEO Brad Garlinghouse said Japan's regulatory clarity has allowed "entrepreneurship and investment to truly flourish." He anticipates strong demand for a Japanese yen stablecoin, but won't make any commitments about a Ripple stablecoin in Japan until the company launches one in the United States.

Garlinghouse told Bloomberg, "People will want to hold a yen stablecoin, I think it's only a matter of time." While Japan is a "conservative market" in some ways, he said it's "very healthy" in others. He believes Japan has done a better job in providing regulatory clarity and legislation for stablecoins and cryptocurrencies. However, Ripple will first focus on launching a stablecoin in the U.S. before considering Japan.