Nomura Announces Partnership with GMO Internet Group to Launch Dollar and Yen Stablecoins in Japan

As a seasoned crypto investor with a deep understanding of the Japanese financial landscape, I’m thrilled about Nomura’s latest collaboration with GMO Internet and GMO-Z. This partnership holds immense potential for the Japanese market, especially when it comes to stablecoins and their issuance.

I’ve come across an exciting development between Nomura, a leading financial services firm from Japan, and GMO Internet, the internet infrastructure company with a subsidiary called GMO-Z specializing in stablecoins. Together with Nomura’s digital assets subsidiary, Laser Digital, they aim to investigate the possibility of introducing dollar- and yen-pegged stablecoins into the Japanese market. Furthermore, they plan to offer stablecoin solutions as a service to their customers.

Regarding our latest venture, Nomura Holdings President and CEO Kentaro Okuda emphasized the significance and prospective benefits of stablecoins during his speech.

“Given the significant role stablecoins are expected to play within financial markets, Nomura and its subsidiary Laser Digital look forward to collaborating with GMO on investigating the processes surrounding the issuance, redemption, and circulation of a JPY/USD stablecoin in Japan. This venture could significantly boost digital asset availability and advance innovation in Japan’s financial sector.”

Nomura Partnership Will Launch Stablecoins and Stablecoin Service for Would-Be Issuers

The alliance among the three entities will explore the creation, exchange, and management of USD and JPY stablecoins. Furthermore, they will offer a “stablecoin-as-a-service” platform for businesses aiming to introduce their own stablecoins. This comprehensive solution will address significant aspects such as regulatory oversight, transaction handling, and blockchain integration.

As a researcher studying the digital finance landscape, I’d describe it this way: I’ve come across GMO-Z, a subsidiary of GMO Internet Group that holds a New York State Trust Charter. This company plays a significant role in issuing two types of stablecoins – ZUSD and GYEN – on the Solana, Ethereum, and Stellar blockchains. Among these stablecoins, GYEN is pegged to the Japanese Yen (JPY), while ZUSD maintains its value against the US Dollar.

For some time now, Nomura has explored the crypto sector through its subsidiary, Laser Digital. In September of last year, Laser Digital introduced a Bitcoin investment fund named the “Bitcoin Adoption Fund,” exclusively available to institutional investors. Moreover, in October, they announced the establishment of a new office in Tokyo.

Last year, a collaboration between Nomura, CoinShares, and Ledger obtained a complete operational license from the Virtual Asset Regulatory Authority (VARA) in Dubai. This license empowers their venture, Komainu, to introduce fresh crypto services and build upon existing ones. Launched in June 2020, Komainu provides secure storage solutions for exchanges, asset managers, governments, corporations, financial institutions, and various other entities. The platform supports more than 5,500 tokens spanning over thirty native blockchains.

Japan’s Vibrant Crypto Industry

In Japan’s crypto market, some significant developments have emerged lately. For example, Bitcoin achieved a new peak against the Japanese yen last week, marking a new record of 11.2 million yen. This was the first instance of Bitcoin surpassing the 11 million yen threshold.

Panasonic, the renowned Japanese electronics corporation, is exploring the use of digital assets for tourist passes in collaboration with DeCurret, the parent company of DCJPY cryptocurrency. These passes will be issued at fixed rates and will grant tourists unlimited access to buses and trains. Smart contracts will facilitate the distribution of payment among relevant service providers once purchased by tourists.

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2024-05-27 18:20