Japanese Banking Giant Established an Important Partnership for Cryptocurrency Payments!

Japanese banking giant Nomura has partnered with GMO Internet Group to explore stablecoin issuance in the country.

Nomura and its digital asset arm Laser Digital announced a partnership with Japan-based GMO Internet Group to explore stablecoin issuance in the country.

In a joint statement made by the companies on Monday, May 27, it was stated that they plan to investigate the issuance, redemption and circulation of stablecoins in Japanese yen and dollars.

Making a statement on the subject, Laser Digital's chairman of the board, Steve Ashley, stated that stablecoin developments will play a key role in global growth:

As the digital asset landscape evolves, the development of a stablecoin for use in the Japanese market will be key to expanding the accessibility and adoption of digital assets in Japan and beyond.

GMO-Z.com Trust, GMO's subsidiary in the USA, has recently launched stablecoins, including GYEN and ZUSD, on various blockchains.