- Nomura Group has announced a new partnership.
- The partnership has brought together three companies.
- The companies will explore stablecoin issuance.
Nomura Holdings, Inc. and its digital asset subsidiary Laser Digital have partnered with GMO Internet Group to explore stablecoin issuance in Japan, the companies jointly announced on Monday.
GMO Internet is the parent company of GMO-Z.com Trust Company, an issuer of regulatory-compliant stablecoins like GYEN and ZUSD on various blockchains. The subsidiary operates under the regulatory framework of the New York State Department of Financial Services.
Exploring JPY and USD-pegged Stablecoins
In a press release dated May 27, the three companies said their proposed partnership will explore the issuance, redemption, and circulation mechanisms of JPY and USD stablecoins in the Japanese market.
Sponsored
While Nomura will leverage Laser Digitalโs extensive expertise in crypto trading, asset management, and venture investment to support the project, GMO plans to contribute more on the technology side. This includes facilitating a robust crypto management platform for monitoring transactions and operations.
Laser Digital Executive Chairman Steve Ashley lauded the collaboration, noting that it was poised to transform the digital assets industry in Japan and beyond.
โAs the digital asset landscape evolves, the development of a stablecoin for use in the Japanese market will be key to expanding the accessibility and adoption of digital assets in Japan and beyond,โ Ashley stated.
The three companies also plan to create a โStablecoin-as-a-Serviceโ solution for stablecoin issuers, whose offerings will include regulatory compliance management, blockchain technology integration, and backend transaction management
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