- Nomura, a banking giant in Japan, has partnered with GMO Internet Group to explore stablecoin issuance in the country.
- Laser Digital, the digital asset arm of Nomura, announced the partnership with GMO Internet Group to research the issuance of stablecoins in Japanese yen and US dollars.
- In a joint announcement on Monday, the companies expressed their plans to investigate the issuance, redemption, and circulation of stablecoins.
Nomura partners with GMO Internet Group to explore stablecoin issuance in Japan, highlighting the growing importance of digital assets.
Stablecoin Development in Japan
The collaboration between Nomura and GMO Internet Group aims to delve into the development and utility of stablecoins within the Japanese market, potentially expanding accessibility and adoption of digital assets both domestically and globally.
Significance of Stablecoin Growth
Steve Ashley, the Chairman of Laser Digital, emphasized the pivotal role stablecoin developments play in the global expansion of digital assets, particularly in enhancing accessibility and adoption in Japan and beyond.
GMO’s Track Record with Stablecoin Launches
GMO-Z.com Trust, a subsidiary of GMO based in the US, has previously launched stablecoins such as GYEN and ZUSD on various blockchains, showcasing the company’s experience and commitment to the stablecoin market.
Conclusion
The partnership between Nomura and GMO Internet Group signifies Japan’s growing interest in the stablecoin sector, reflecting the broader trend of financial institutions exploring digital asset solutions to meet evolving market demands and regulatory frameworks.
