Firms Investigate Japanese Stablecoin Issuance

Nomura, Laser Digital and GMO Internet Group have unveiled plans to explore the issuance, redemption, and circulation mechanisms of JPY and USD stablecoins.

As part of the plan, the firms also will look at the provision of a “Stablecoin-as-a-Service” solution aimed at supporting companies issuing stablecoins. This service will include regulatory compliance management, blockchain technology integration, and backend transaction management.

GMO-Z.com Trust Company, the US subsidiary of the GMO Internet Group, issues stablecoins on blockchains such as Ethereum, Stellar, and Solana under the regulatory framework of the New York State Department of Financial Services. GMO-Z.com Trust Company operates a system that supports the secure management of digital currencies; this system supports multiple technological platforms and includes features for monitoring currency transactions and operations.

Nomura Holdings, through Laser Digital, will support the issuance of stablecoins in Japan by contributing its expertise in digital asset trading, asset management, and venture investment to the project.

“As stablecoins will inevitably play an important part in financial markets, Nomura and its digital asset subsidiary Laser Digital are excited to partner with GMO to explore the issuance, redemption, and circulation mechanisms of a JPY/USD stablecoin business in Japan,” says Kentaro Okuda, president and group CEO, Nomura Holdings. “This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape.”

Steve Ashley, executive chair of Laser Digital, adds, “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.”