**Ripple Eyes Japan for Stablecoin Potential**

Ripple CEO Brad Garlinghouse sees Japan as a promising market for stablecoins, particularly a Yen-backed version. In a recent interview, Garlinghouse highlighted Japan's regulatory clarity and thriving entrepreneurial environment as key factors. However, Ripple plans to launch its USD stablecoin in the US first before considering Japan.

Garlinghouse noted Japan's proactive stance on crypto regulations compared to the US, UK, and Switzerland. Ripple's USD stablecoin, RLUSD, is already in testing phases on the XRP ledger and Ethereum mainnets, with future plans for broader deployment.

Meanwhile, Japan’s top banks are backing Project Pax, a new stablecoin platform aimed at enhancing cross-border business settlements.