Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
Nomura, Laser Digital partner with GMO to explore stablecoin issuance in Japan

Nomura, Laser Digital partner with GMO to explore stablecoin issuance in Japan

The BlockThe Block2024/05/27 10:10
By:The Block

Quick Take The Japanese banking giant intends to explore the issuance of yen-denominated and U.S. dollar-denominated stablecoins in Japan.

Japanese banking giant Nomura and its digital asset arm, Laser Digital, have partnered with Japan-headquartered GMO Internet Group to explore stablecoin issuance in the country.

In a statement released Monday, the companies said they plan to explore the issuance, redemption and circulation of Japanese yen- and U.S. dollar-denominated stablecoins. 

The partnership also plans to offer "stablecoin-as-a-service" products to assist companies in issuing stablecoins. Such offering will likely encompass regulatory compliance management, blockchain integration and backend transaction management, according to the statement.

Through the partnership, Nomura and Laser Digital will focus more on crypto trading, asset management and venture investment, while GMO plans to contribute more on the technology side.

“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,” Steve Ashley, executive chairman of Laser Digital, said in the statement.

Previously, GMO-Z.com Trust, GMO’s U.S. subsidiary, issued stablecoins, including GYEN and ZUSD, on various blockchains


0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!

You may also like