World Crypto Global
- Written by: Damian Chmiel
- Mon, 27 May 2024
- Israel
NomuraHoldings, Inc., a global financial services group, and its digital assetsubsidiary, Laser Digital Holdings AG, have announced a strategic partnershipwith GMO Internet Group, Inc. to explore the issuance of Japanese yen (JPY) andUS dollar (USD) stablecoins in Japan. Nomura and GMO InternetGroup Explore Stablecoin Issuance in JapanThiscollaboration aims to leverage each company's experience to provide a securestablecoin solution for the Japanese market. GMO Internet Group, through its USsubsidiary GMO-Z.com Trust Company, Inc., has a proven track record in issuingstablecoins on major blockchains such as Ethereum, Stellar, and Solana. The companyoperates a digital currency management system supporting multiple technological platforms and monitoring features for currencytransactions and operations."Asstablecoins will inevitably play an important part in financial markets, Nomuraand its Digital Asset subsidiary Laser Digital are excited to partner with GMO, said Kentaro Okuda, the President and Group CEO of Nomura Holdings. Thisproject has the potential to greatly enhance digital asset accessibility andinnovation in the Japanese financial landscape."Were excited to share the release from our group headquarters, GMO Internet Group, along with Nomura Holdings and Laser Digital. Full details about the press release: https://t.co/l95jvwhLzn#stablecoin pic.twitter.com/uWWK84GU4L GMO-Z.com Trust Company (@GMOTrust) May 27, 2024Thecollaboration between Nomura, Laser Digital, and GMO Internet Group will delveinto the various aspects of stablecoin issuance, including the creation,redemption, and circulation processes for both JPY and USD stablecoins.Additionally, the partnership aims to introduce a comprehensive servicedesigned to assist companies interested in issuing their own stablecoins. Thisservice will encompass essential elements such as ensuring compliance withregulatory requirements, integrating the necessary blockchain technology, and seamlessly managing backend transactions.As thedigital asset landscape evolves, the development of a stablecoin for use in theJapanese market will be key to expanding the accessibility and adoption ofdigital assets in Japan and beyond, commented Steve Ashley, the ExecutiveChairman at Laser Digital. "We're excited to explore this project and the stablecoin-as-a-service' solution."Stablecoins,digital assets linked on a 1:1 basis with fiat currencies, merge the stabilityof traditional money with the benefits of digital technology, facilitatingquicker, less expensive, and clearer transactions. Stablecoin-as-a-Service (SCaaS) is a blockchain-based solution that enables businesses and institutions to issue, manage, and transfer their own branded stablecoins without the need for extensive internal research and development.New Hires in Nomura and Laser DigitalEarlierthis month, Nomura unveiled plans to double its profits to over $3 billion bythe end of the current decade, aiming to refocus resources, particularly withinits wholesale division. Meanwhile, the company also hired a new Chief Economistfor Developed Markets, hedge fund veteran David Seif. Previously, it hadappointed former Deutsche Bank executive, Hemish Shah, as the new Head of EMEAFlow Rates. Additionally, Laser Digital, part of Nomura, further strengthenedits leadership by hiring Hideaki Kudo as the new Representative Director andHead of the newly established office in Tokyo.This article was written by Damian Chmiel at www.financemagnates.com.
