Japanese banking giant Nomura Holdings and its digital asset arm Laser Digital have partnered with Japanese internet group GMO Internet Group to explore the issuance of stablecoins in Japan.
According to a statement released on Monday (27th), this cooperation plans to explore the issuance, redemption and circulation mechanism of stablecoins denominated in Japanese yen and US dollars, and provide "stablecoin-as-a-service" products. To help companies issue stablecoins, such products may cover regulatory compliance management, blockchain integration and back-end transaction management.
Through this partnership, Nomura and Laser Digital will focus more on cryptocurrency trading, asset management and venture capital, while GMO plans to make more contributions in technology.
Steve Ashley, executive chairman of Laser Digital, said in a statement:
“As the digital asset space 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 other countries.”
GMO’s U.S. subsidiary, GMO-Z.com Trust, has previously issued stablecoins on multiple blockchains, including GYEN and ZUSD.
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This article Nomura Holdings, Laser Digital and GMO team up to explore stablecoin issuance in Japan first appeared on Zombit.
