Ripple CEO Brad Garlinghouse said Japan's efforts in regulatory clarity have allowed "startups and investments to really flourish." Demand for yen stablecoins is expected to be strong, although he will not make any commitments about Ripple stablecoins in Japan until the company launches Ripple stablecoins in the United States. "People will want to hold yen stablecoins, I think it's only a matter of time," Brad Garlinghouse told Bloomberg in an interview. While Japan is a "conservative market" in some ways, the market is "very healthy" in other ways and believes that Japan is better at providing regulatory clarity and legislation for stablecoins and cryptocurrencies, although Ripple will focus on launching stablecoins in the United States first and then consider Japan.