Nomura Holdings, a major Japanese banking and investment firm, has joined forces with GMO Internet Group to investigate the creation of fiat-backed stablecoins in Japan. The partnership aims to facilitate the issuance, redemption, and circulation of Japanese yen (JPY) and US dollar (USD) stablecoins. In addition to these stablecoins, Nomura and GMO intend to provide a 'Stablecoin-as-a-Service' solution, catering to companies interested in issuing stablecoins in the Japanese market. This initiative will offer benefits such as regulatory compliance management, blockchain integration, and backend transaction support. Nomura's expertise in crypto trading, asset management, and venture investment, combined with GMO's technological capabilities, are expected to drive the success of the project. The collaboration is seen as a significant step towards enhancing digital asset accessibility and innovation in Japan's financial sector. Read more AI-generated news on: https://app.chaingpt.org/news