The CEO of the American company Ripple said that stablecoins tied to the Japanese yen will be in great demand on the market. The US lags behind Japan in regulating the crypto market, the entrepreneur named an important reason.

Brad Garlinghouse believes that the Japanese market has its own characteristics: on the one hand, it is conservative, but on the other, it shows healthy development.

According to the CEO Ripplethe key factor in the success of stablecoins in Japan is the clear and transparent policy of the government, which aims to attract large companies and startups from all over the world:

“There will be significant demand for yen-pegged stablecoins, it’s only a matter of time. Entrepreneurship and investment in the digital economy are booming in Japan. The US is lagging behind both it and the UK and Switzerland.”

Despite the growing appeal of the Asian country’s market, the company will launch a stablecoin first Ripple USD (RLUSD) in the US by the end of the year, and then it will go to Japan, the businessman clarified.

Earlier, Brad Garlinghouse criticized the US Securities and Exchange Commission (SEC) for its tough approach to regulating cryptocurrencies and hinted at the company’s possible exit from the American market.