Japanese banking giant Nomura Holdings and its digital asset division, 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), the collaboration aims to explore the issuance, redemption, and circulation mechanisms of stablecoins denominated in Japanese yen and US dollars. It also aims to offer a “stablecoin-as-a-service” product to help businesses issue stablecoins, which may include regulatory compliance management, blockchain integration, and backend transaction management.
Through this partnership, Nomura and Laser Digital will focus more on cryptocurrency trading, asset management, and venture capital, while GMO plans to contribute more in terms of technology.
Steve Ashley, Chairman of Laser Digital, stated in the announcement that GMO’s US subsidiary, GMO-Z.com Trust, has previously issued stablecoins on multiple blockchains, including GYEN and ZUSD.
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