Digital Products
- Nomura Holdings and Laser Digital have partnered with GMO Internet Group on a new project focused on stablecoins.
- The two companies will cooperate on the issuance, redemption, and distribution of Japanese Yen- and US Dollar-pegged stablecoins in Japan.
Japanese bank and investment giant Nomura Holdings is considering partnering with GMO Internet Group to issue fiat-backed bonds. Stablecoins in Japan.
This collaboration is announcement The plan, announced on Monday, will see Nomura Holdings, through its digital asset division Laser Digital, support the issuance, redemption and distribution of Japanese yen (JPY) and US dollar (USD) denominated stablecoins.
Digital Products Focus on Japan’s stablecoin market
Nomura and GMO plan to offer Japanese Yen and US Dollar stablecoins, as well as a “stablecoin-as-a-service” solution to support companies wanting to issue stablecoins for the Japanese market.
Users of this new service will benefit from aspects such as regulatory compliance management, blockchain integration, and back-end transaction management.
According to today’s announcement, Nomura will contribute its extensive expertise in cryptocurrency trading, asset management and venture investment to the project, while GMO will provide technical expertise.
“We are pleased to work with Nomura Group to explore the issuance of a stablecoin in the Japanese market. Nomura Group’s infrastructure and tradition, as well as Laser Digital’s experience, will be crucial to the success of this project in Japan,” Masatoshi Kumagai, founder and group CEO of GMO Internet Group, said in a statement.
“This project has the potential to significantly increase the accessibility and innovation of digital assets in Japan’s financial community,” said Nomura Holdings President and CEO Kentaro Okuda.
Digital Products Laser Digital and GMOs grow
Nomura Announced Having established a digital assets subsidiary in March 2022, Laser Digital is now a major player in the cryptocurrency and blockchain space. Recently, the platform Partnered with Pyth Network As a data provider.
GMO’s US subsidiary, GMO-Z.com Trust Company, has issued stablecoins on major blockchains including Ethereum, Stellar and Solana.
Regulated stablecoins on the NYDFS licensed platform include GYEN and ZUSD.
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“Nomura Holdings and Laser Digital have partnered with GMO Internet Group to launch a new project focused on stablecoins. The two companies will cooperate in the issuance, redemption and distribution of Japanese yen…”
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