Ripple CEO Brad Garlinghouse stated that Japan's efforts in providing regulatory clarity have made "entrepreneurship and investment truly flourish," leading him to anticipate strong demand for a Japanese yen stablecoin. However, he wouldn't make any promises about a Ripple stablecoin in Japan before the company launches one in the United States.

In an interview with Bloomberg, Garlinghouse said, "People will want to hold a yen stablecoin, I think it's just a matter of time." While Japan is "conservative" in some ways, he believes the market is "very healthy" in others. He credits Japan with being better at providing regulatory clarity and legislation for stablecoins and cryptocurrencies.

Ripple will first focus on launching a stablecoin in the U.S. before considering Japan.