Nomura Holdings and Laser Digital partner with GMO Internet Group to explore the issuance of JPY and USD stablecoins in Japan.
This partnership between GMO Internet Group, Inc., Nomura Holdings, Inc., and Laser Digital Holdings AG aims “to leverage our track record in stablecoin issuance and expertise in digital assets to provide the highest standard of service in the stablecoin business.”
GMO-Z.com Trust Company, Inc., the U.S. subsidiary of the GMO Internet Group, issues stablecoins on major 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 robust 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 extensive expertise in digital asset trading, asset management, and venture investment to the project.”
The proposed partnership will explore “the issuance, redemption, and circulation mechanisms of JPY and USD stablecoins.”
Furthermore, it also includes the provision of a “Stablecoin-as-a-Service” solution aimed at supporting companies issuing stablecoins.
This service will reportedly “include regulatory compliance management, blockchain technology integration, and backend transaction management.”
A fiat-backed stablecoin is a digital asset pegged 1:1 “to a fiat currency such as the Japanese yen or the US dollar.”
It combines the creditworthiness and “stability of fiat currency with the technical advantages of digital assets, enabling faster, cheaper, and more transparent transactions.”
GMO Internet Group, Inc., Masatoshi Kumagai, Founder, Chairman and Group CEO said:
“We’re grateful to be cooperating with the Nomura Group to explore the issuance of stablecoins in the Japanese market. Their infrastructure and heritage alongside the experience of Laser Digital, are of paramount importance to the success of this project in Japan.”
Nomura Holdings, Inc., Kentaro Okuda, President and Group CEO said:
“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. This project has the potential to greatly enhance digital asset accessibility and innovation in the Japanese financial landscape.”
Laser Digital, Steve Ashley, Executive Chairman said:
“We’re excited to explore this project and the ‘stablecoin-as-a-service’ solution. 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 Internet Group is a comprehensive internet group “primarily providing essential internet infrastructure services that form the foundation of business operations, including domain registration, security, and payments.”
