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.
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