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Home»ADOPTION NEWS»Nomura explores stablecoin issuance in Japan through partnership between Laser Digital and GMO
ADOPTION NEWS

Nomura explores stablecoin issuance in Japan through partnership between Laser Digital and GMO

By Crypto FlexsMay 27, 20242 Mins Read
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Nomura explores stablecoin issuance in Japan through partnership between Laser Digital and GMO
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Japanese banking giant Nomura and its digital asset arm Laser Digital have partnered with Japan-based GMO Internet Group to explore the issuance of stablecoins in Japan.

In a statement released Monday, the two companies said they plan to investigate the issuance, redemption and distribution of Japanese yen- and U.S. dollar-denominated stablecoins.

The partnership also plans to offer “stablecoin-as-a-service” products to support enterprises issuing stablecoins. According to the statement, these services will likely include compliance management, blockchain integration, and backend transaction management.

Through this partnership, Nomura and Razer Digital plan to focus more on cryptocurrency trading, asset management, and venture investment, while GMO plans to contribute more to the technology side.

“As the digital asset landscape evolves, the development of a stablecoin for use in the Japanese market will expand the accessibility and adoption of digital assets in Japan and beyond,” Laser Digital Chairman Steve Ashley said in a statement. “It will be key,” he said. .

Previously, GMO’s US subsidiary, GMO-Z.com Trust, issued stablecoins including GYEN and ZUSD on various blockchains.


Disclaimer: The Block is an independent media outlet delivering news, research and data. As of November 2023, Foresight Ventures is a majority investor in The Block. Foresight Ventures invests in other companies in the cryptocurrency space. Cryptocurrency exchange Bitget is an anchor LP of Foresight Ventures. The Block continues to operate independently to provide objective, impactful and timely information about the cryptocurrency industry. Below are our current financial disclosures.

© 2023 The Block. All rights reserved. This article is provided for informational purposes only. It is not provided or intended to be used as legal, tax, investment, financial or other advice.

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