Nomura and Laser Digital partner with GMO to explore stablecoin issuance in Japan

Nomura Holdings and its digital asset subsidiary Laser Digital have partnered with GMO Internet Group to explore the issuance of JPY and USD stablecoins in Japan. 

According to an announcement published on Monday, Kentaro Okuda, President and Group CEO of Nomura Holdings, Inc., said that since stablecoins will undoubtedly play a significant role in financial markets, his company and its digital asset arm, Laser Digital, are very excited to partner with GMO to explore the issuance, redemption, and circulation mechanisms of a JPY/USD stablecoin business in Japan. He believes the project has the potential to significantly improve innovation and accessibility to digital assets in the Japanese financial sector. 

The partnership includes a "Stablecoin-as-a-Service" product to assist companies that are issuing stablecoins. This service will handle backend transaction processing, blockchain technology integration, and regulatory compliance management, according to the statement. 

Laser Digital Executive Chairman Steve Ashley stated, "We're eager to learn more about this initiative and the "stablecoin-as-a-service" option. The creation of a stablecoin for the Japanese market will be essential to increasing the accessibility and uptake of digital assets in Japan and elsewhere as the landscape of digital assets changes. 

Through the partnership, the three companies intend to issue stablecoins under the New York State Department of Financial Services' regulatory framework on major blockchains like Ethereum, Stellar, and Solana. GMO also aims to leverage Japanese banking giant Nomura and its digital assets arm, Laser Digital, which has a proven track record of issuing stablecoins and expertise in digital assets, in order to deliver the best possible service in the stablecoin industry. 

Masatoshi Kumagai, the founder, chairman, and group CEO of GMO Internet Group, Inc., said: "We are happy to be working with Nomura to explore the issuance of stablecoins in the Japanese market. In addition to Laser Digital's experience, their infrastructure and legacy are crucial to the project's success in Japan.

Disclaimer: This information should not be considered financial advice by any means. Please do your own research before making any investment decisions. The views in the articles are personal opinions only. Whale Insider is not responsible for any financial losses incurred.